Review Figure 10.1 and argue why the Balance Scorecard should be included in thi

Question

Review Figure 10.1 and argue why the Balance Scorecard should be included in this Strategy Execution Process.

FIGURE 10.1 The 10 Basic Tasks of the Strategy Execution Process Develop the resources and organizational capabilities required for successful strategy execution Staff the organization with the right people for executing the strategy Establish a strategy- supportive organizational structure Exercise strong leadership to propel strategy executiorn Allocate sufficient resources to the strategy executiorn effort forward The Action Agenda for Executing Strategy Instill a corporate culture that promotes good strategy execution Institute policles and procedures that facilitate strategy execution Tie rewards and Incentives directly to the achievement of strategic Adopt best practices and business processes that drive continuous Improvement and financial targets Install Information and operating systems that support strategy execution activities

Explanation / Answer

The balanced scorecards are highly essential for proctoring the company strategically process is actually working or not. The process of performing day to day activities is highly measured by the scorecards. The strategies desired to meet the company objectives are necessary to be monitored before the execution process begins. All the factors of uncertainties that may arise are necessary to be focused before the execution. It is the predetermined state which requires being considered properly before the process of strategic activities begins.

It is the performance reports that are generated by the management team which states the management strategic activities. From the report, it will be easy to follow up the steps which the organization is moving or will move. The important aspects of scorecards are to refer the performance of the strategies which are necessary for an organization to focus more and more by considering all the organization's departments.

Within the organization, there are various departments who set their working procedures and met the goals. All come from the different strategies which the company undertakes to fulfill their working standards and it is highly beneficial for the organization to keep a deep focus on the ongoing management process through the strategies. Strategies are the footstep in an organization which the employees follow to lead the process accordingly for bringing the goal in the company. So it is necessary to make all the strategies validated with respect to the working process in the organization so that no threats or lack of production can arise. Further, the reports are necessary to be scrutinized for maintaining a growth in the organization. These will effectively solve the problem related to any major implementations in the strategic structures and it will bring the goal in the organizations.

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