Accountancy and Finance, Designing a Balanced Scorecard Essay

Accountancy and Finance, Designing a Balanced Scorecard - Essay Example ns are not for profit making, it is important that appropriate good practices of financial management are maintained so as to ensure that there are adequate resources aimed at meeting the objectives of the organization and ensuring that they remain solvent while at the same time continuing to support the community. A scorecard is a combination of the four common measures (quadrants) that are directly associated with a company’s objective strategies (Pearson & Robinson, 2009). The Otago Museum in New Zealand was founded on the 15th day of September 1968, initially being located in the post office building in Denedin’s Exchange, a building which also accommodates the University of Otago. The 1877 saw the responsibility for managing the museum become vested with the University of Otago, an arrangement that lasted nearly 80 years and letter the transfer of the ownership to a trust board which was authorized to attract funding from various local authorities in the Otago region. Among the principle funders continue to be Dunedin City Council, Clutha District, Central Otago Districy Council and Waitaki District Council. This report will be designing a comprehensive balance scorecard (BSC) for the museum indicating clearly the strategic objectives of the museum, the strategic business themes supporting the objectives and the cause and effect relationship linking Balanced Scorecard (BSC)dimensions with strategic themes and the objectives. More often than not, an organization’s mission statement guides on how an organization needs to maintain a balance of the needs and the various expectations as appertains to the various stakeholders (Harel, & Boaz, 2008). However, most non-profit organizations like Otago museum do not operate in extreme circumstances hence can do for both the donors and their employees/volunteers despite the fact of the existence another restricting factor which can be done for the different groups, that one which falls generally within the purview

Case discussion Study Example | Topics and Well Written Essays - 750 words

Discussion - Case Study Example According to Susan, John had bypassed her and several other women in previous promotion exercises. As the Vice President, Kyle had the responsibility of ensuring that the stalemate was resolved amicably. Since the stalemate was a multi-faceted affair, there was a need to encourage dialogue to ensure that any decisions arrived at were amicable and acceptable among all persons involved. However, despite having the responsibility to ensure an amicable resolution of the dispute was obtained, it was also Kyle’s responsibility to ensure that employees respected authority. In this regard, it would be Kyle’s responsibility to insist that John’s instructions ought to have been followed since he had the power to make the decisions that he had already made. It would be appropriate if Kyle were to reverse John’s decisions because some employees were unhappy with them, and especially because any decision that would be made would affect Westco directly. The existing organizational culture at Westco could also have contributed to the stalemate. Westo had an ‘open door’ policy, and Kyle, being the Vice President, had promised to take employee concerns seriously. These two aspects contributed significantly to the employees’ notion that they were entitled to disagree openly with John’s decisions. On the other hand, the organizational structure indicated that in the seniority order, Adam was more senior in the company as compared to Oscar. Similarly, Bob and Susan were at the same level. John had complete discretion to promote any of these employees. This is because he had the responsibility to promote and protect the company’s interests. Additionally, the employees’ rankings were not too far apart as to cause any significant protocol problems. The best employee to promote would have been the employee who, in John’s opinion, was most suitable to perform the job regardless of any other considerations. As a result,

Case discussion Study Example | Topics and Well Written Essays - 750 words

Discussion - Case Study Example According to Susan, John had bypassed her and several other women in previous promotion exercises. As the Vice President, Kyle had the responsibility of ensuring that the stalemate was resolved amicably. Since the stalemate was a multi-faceted affair, there was a need to encourage dialogue to ensure that any decisions arrived at were amicable and acceptable among all persons involved. However, despite having the responsibility to ensure an amicable resolution of the dispute was obtained, it was also Kyle’s responsibility to ensure that employees respected authority. In this regard, it would be Kyle’s responsibility to insist that John’s instructions ought to have been followed since he had the power to make the decisions that he had already made. It would be appropriate if Kyle were to reverse John’s decisions because some employees were unhappy with them, and especially because any decision that would be made would affect Westco directly. The existing organizational culture at Westco could also have contributed to the stalemate. Westo had an ‘open door’ policy, and Kyle, being the Vice President, had promised to take employee concerns seriously. These two aspects contributed significantly to the employees’ notion that they were entitled to disagree openly with John’s decisions. On the other hand, the organizational structure indicated that in the seniority order, Adam was more senior in the company as compared to Oscar. Similarly, Bob and Susan were at the same level. John had complete discretion to promote any of these employees. This is because he had the responsibility to promote and protect the company’s interests. Additionally, the employees’ rankings were not too far apart as to cause any significant protocol problems. The best employee to promote would have been the employee who, in John’s opinion, was most suitable to perform the job regardless of any other considerations. As a result,

Case discussion Study Example | Topics and Well Written Essays - 750 words

Discussion - Case Study Example According to Susan, John had bypassed her and several other women in previous promotion exercises. As the Vice President, Kyle had the responsibility of ensuring that the stalemate was resolved amicably. Since the stalemate was a multi-faceted affair, there was a need to encourage dialogue to ensure that any decisions arrived at were amicable and acceptable among all persons involved. However, despite having the responsibility to ensure an amicable resolution of the dispute was obtained, it was also Kyle’s responsibility to ensure that employees respected authority. In this regard, it would be Kyle’s responsibility to insist that John’s instructions ought to have been followed since he had the power to make the decisions that he had already made. It would be appropriate if Kyle were to reverse John’s decisions because some employees were unhappy with them, and especially because any decision that would be made would affect Westco directly. The existing organizational culture at Westco could also have contributed to the stalemate. Westo had an ‘open door’ policy, and Kyle, being the Vice President, had promised to take employee concerns seriously. These two aspects contributed significantly to the employees’ notion that they were entitled to disagree openly with John’s decisions. On the other hand, the organizational structure indicated that in the seniority order, Adam was more senior in the company as compared to Oscar. Similarly, Bob and Susan were at the same level. John had complete discretion to promote any of these employees. This is because he had the responsibility to promote and protect the company’s interests. Additionally, the employees’ rankings were not too far apart as to cause any significant protocol problems. The best employee to promote would have been the employee who, in John’s opinion, was most suitable to perform the job regardless of any other considerations. As a result,