https://padlet.com/t_kotze/755iyww8ma4f Find out what a balanced scorecard is and why it is a useful tool that can lead to business success. en-us 2016-12-04 13:42:44 UTC 2017-01-18 15:56:57 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Cornershop.png t_kotze https://padlet.com/t_kotze/755iyww8ma4f/wish/142470800 Learning and growth defines the core competencies and skills, technologies and corporate culture needed to implement the organisation's strategy. The human resources and information technology has to be aligned with the business' vision / strategy.]]> 2016-12-08 07:01:41 UTC https://padlet.com/t_kotze/755iyww8ma4f/wish/142470800 t_kotze https://padlet.com/t_kotze/755iyww8ma4f/wish/142471003 The internal process perspective captures the critical organisational activities that drive productivity improvements and value for customers to reach the business' financial objectives. 
There are FOUR main high-level processes:
 - Build the franchise by innovating with new products and services by penetrating new markets and customer segments.
 - Increase customer value by deepening relationships with existing customers.
 - Achieve operational excellence by improving supply chain management, cost, quality and cycle time of internal processes, asset utilisation and capacity management.
 - Become good corporate citizens by establishing effective relationships with external stakeholders, e.g. through social responsibility and good supplier relationships.]]> 2016-12-08 07:05:37 UTC https://padlet.com/t_kotze/755iyww8ma4f/wish/142471003 t_kotze https://padlet.com/t_kotze/755iyww8ma4f/wish/142471037 The customer value strategy entails a mix of product and service attributes (characteristics), customer relations and corporate image of the company. It defines how the organisation will create a unique selling point (USP) to differentiate itself from competitors to attract, retain, and strengthen their relationship with their target market.
 
 Value strategy can be chosen from THREE differentiators:
 - operational excellence (Mc Donald's makes use of this)
 - product leadership (Sony makes use of this)
 - Customer intimacy (IBM made use of this)]]> 2016-12-08 07:06:24 UTC https://padlet.com/t_kotze/755iyww8ma4f/wish/142471037 t_kotze https://padlet.com/t_kotze/755iyww8ma4f/wish/142471094 There are two basic pillars that form part of a finance strategy, namely revenue growth and productivity.
 
 Revenue growth: This can be achieved by:
- Building the franchise with income made from new markets, new products and new customers. This means that the franchise must expand its terrritory.
- On the other hand, income can be built by increasing value to existing customers by deepening relationships with them by offering variety, combinations of products and focusing on changing needs (such as banting in the food industry).

Productivity: Improved productivity can be achieved through the company's cost structure. This can be done by:
- Reducing direct and indirect expenses and by using assets more efficiently.
- Reducing fixed and working capital needed to support a given level of business.]]> 2016-12-08 07:07:08 UTC https://padlet.com/t_kotze/755iyww8ma4f/wish/142471094 t_kotze https://padlet.com/t_kotze/755iyww8ma4f/wish/142471141 In the past, companies created value by turning raw materials into finished products. Access to internet, smartphones and other information technology, changed the way businesses are run. Businesses now have to focus on intangible assets as well, for example customer relationships, employee skills and knowledge and a business culture that encourages innovation, problem solving and general organisational improvements.]]> 2016-12-08 07:08:00 UTC https://padlet.com/t_kotze/755iyww8ma4f/wish/142471141 t_kotze https://padlet.com/t_kotze/755iyww8ma4f/wish/142471171 This strategy performance management tool was originally designed by doctor Robert Kaplan and doctor David Norton.]]> 2016-12-08 07:08:34 UTC https://padlet.com/t_kotze/755iyww8ma4f/wish/142471171 t_kotze https://padlet.com/t_kotze/755iyww8ma4f/wish/142471222 The Balanced Scorecard (BSC) is a strategic performance management tool that enables businesses to bring their vision and strategy into being, by mapping FOUR perspectives:
 - 1) Financial perspective (Top level financial objectives : how do we look to our shareholders?)
- 2) Customer perspective (Customer satisfaction : how do our customers see us?)
 - 3) Internal Process perspective (How well is the business running : what should we be best at?)
- 4) Learning and Growth perspective (People, their skills, training, leadership and knowledge: how can we improve and create value?)
 
Play the YouTube clip below to find out more about the BSC.

]]> 2016-12-08 07:09:12 UTC https://padlet.com/t_kotze/755iyww8ma4f/wish/142471222 t_kotze https://padlet.com/t_kotze/755iyww8ma4f/wish/142471290 The information in this padlet was compiled to assist grade 12 pupils, writing the IEB exam, with their Business Studies task based on the Balanced Scorecard of Kaplan and Norton. They are required to use the elements of the Balanced Scorecard to draw a comparison between Taste Holdings and Famous Brands Limited, and to determine whether these important elements are applied by Taste Holdings and Famous Brands Limited. The websites of the companies and their annual reports will mainly be used in their research. ]]> 2016-12-08 07:10:15 UTC https://padlet.com/t_kotze/755iyww8ma4f/wish/142471290 t_kotze https://padlet.com/t_kotze/755iyww8ma4f/wish/142471314 Harvard Business Review... Click on the Harvard Business Review page below to read the full article.]]> 2016-12-08 07:10:32 UTC https://padlet.com/t_kotze/755iyww8ma4f/wish/142471314