BALANCED SCORECARD Essay Example | Topics and Well Written Essays - 2500 words

BALANCED SCORECARD - Essay Example It is headquartered at Ohio, United States. The company is engaged in the business of offering consumer goods to its customers in packaged form. The sales and marketing division of P&G group is committed towards providing best services to its customers. This study entails the preparation of a balanced scorecard for the strategies to be implemented in the sales and marketing division of the company keeping it aligned with the overall strategy of P&G. The Balanced Scorecard includes all the four perspectives of a balanced scorecard namely, the financial, customers, learning and internal business process perspectives. The purpose of this Balanced Scorecard is to look at three objectives in this organizational unit. These objectives will be measured using metrics appropriate for this discipline. Financial The primary goal or objective of this business unit is to increase the sales and add to the profits of the company. A lot of sales personnel are involved in the marketing of products of P&G and it needs to look at the objective of reducing the costs incurred in the various processes involved in this department as well. Customer Customers are the key towards the success and profitability of the company. Hence the company needs to have a well devised strategy leading to complete satisfaction of its customers. Internal Business The strategy related to this perspective would be to increase the efficiency of the marketing division so that it can serve for the better performance of the company. Learning and Development A well devised strategy related to this perspective is also required to be devised by the company. It would include various objectives like imparting training to the personnel in the department so that they can carry on their activities efficiently and help the company to have a sustainable growth and development. Table of Contents Table of Contents 4 Formulation and Implementation of Balanced Scorecard of Procter & Gamble 6 Financial Perspective 8 Sales Growth 9 Growth in Operating Activities 9 Free Cash Flow Productivity 9 Customer Perspective 10 Increase in Customer Retention 10 Improved Customer Service 10 Increase in number of Customers 11 Internal Perspective 11 Reductions in Inventory 11 New Product Developments 12 Improvement in Distribution Efficiency 12 Learning and Growth Perspective 12 Employee Turnover 13 High Skill Levels 13 Employee Satisfaction 13 References 16 Formulation and Implementation of Balanced Scorecard of Procter & Gamble Balance Scorecard was developed by Robert Kaplan and Dr. David Norton in the year 1992. It is a tool developed to measure the level of performance mainly of the employees in an organization. In a Balanced Scorecard system performance is measured on the basis of four perspectives, namely, financial, customers, learning and development, and internal business process perspectives. It contains both the target scores and the scores achieved based on the given category. So it becomes easy to me asure high as well as low performances using Balanced Scorecard (Balance Scorecard Institute, 2012). This study entails about the preparation of a Balanced Scorecard for the sales and marketing division of Procter and Gamble (P&G). P&G is a reputed company which operates its business activities worldwide. It is headquartered at Ohio, United States. P&G is engaged in the business of offering wide range of FMCG products to its customers and they are delivered to them in packaged forms (Yahoo Finance, 2012). The sales and market division of the company constitutes a critical unit of the organization and Balanced Scorecard prepared in this study can help analyze and measure its effectiveness, thereby helping the company to have well devised strategy to attain the objectives of the company. The first step towards

Communication Essay Example | Topics and Well Written Essays - 750 words - 5

Communication - Essay Example The results that are achieved by means of the community policing totally depends on the police officers set of perceptions of the ethics and also this very well plays an important role in the training of the other junior officers as well. This is especially done in order to cut short on the misconduct done by junior officers. Thus when teaching the students and also when giving lectures to the needed person who are dealing with criminal justice such articles can very well be collected from many types of related journals and newspapers. By means of all these sources one can really get so many examples of very irritating issues like gratuities, bribery, corruption, loyalty and also whistle blowing and also many such related issues which can cause such a strain in the public. All these related issues are very serious of their kind and can cause many kinds of social problems. Thus the studies and the resultant hypothesis of many police officers have resulted in collection of enough data that has really meant that there are several key elements that any police officer needs to possess and these can very well be classified into the most five common elements and these are service, honesty or integrity, loyalty and service. Thus the policy of zero tolerance could very well be tested and also will be very effective since they always highlight an effective means of taking the very much needed stringent actions that very well tends to curtail the criminal instinct of most of the people. In many cases the Zero tolerant policies are often tended to be more superficial and hence results in it become reality very rare. Thus there is much statistical evidence that states that there are many negatives that is disadvantages and also many sorts of positives that is advantages related to the zero tolerance policy. Also the implementation of the zero tolerance policy is very tough and almost all the departments offer stiff resistance to its implementation

Supply Chain Management in Sports Obermeyer Case Study

Supply Chain Management in Sports Obermeyer - Case Study Example Given the ten styles of Women's Parkas, I recommend that Wally focuses on the three women's styles which are within one standard deviation from the mean of the normal distribution based on the individual sales forecasts of the Sample Buying Committee as shown in Exhibit 10. These styles are the Electra, the Daphne, and the Assault. About 68% of the population of the normal distribution are within one standard deviation from the mean. Wally can ask China to produce 10,000 units of any of these three styles only. Another option would be for him to choose to produce only one style for the China operations which requires a minimum order of l0,000 units. He can ask the marketing staff to do check the actual demand and to revise the sales forecasts of the three chosen styles. The style with the highest sales forecast will be prioritized for production in China. The two other women's styles can be produced in HK if they have lower sales forecasts. Given that the other styles are within 2 standard deviations from the mean of the normal distribution of the average sales forecasts, I will not recommend Wally to order 10,000 units of these women's styles: Call, Isis, Entice, Teri, Seduced, Stephanie and Anita. The choice of the three styles is a logical one because the individual forecasts already assume the level of the previous year's sales of the women's parkas. In order for forecasts to be reliable, they have to be based on the sales of previous years. If Wally chooses any of the seven other women's styles, then that would not be efficient since those styles already constitute within two standard deviations of the mean. There is a higher probability that he will be choosing the styles which would be harder to dispose of in the retail stores.

Homework5 Essay Example | Topics and Well Written Essays - 500 words

Homework5 - Essay Example 3. The borrower might be required by the lender to pay the reinstatement expenses and sums in the form of money order, cash, certified check, bank check, cashier’s check, and treasurer’s check. Provided any of the checks is drawn from a firm having deposits that are insured by entity, federal agency, and instrumentality. The expenses can also be paid via Electronic Funds Transfer. When the borrower is reinstated the security obligations and instruments will remain effective as if no acceleration had taken place. 4. Borrower is not allowed to store, use, dispose, or release any substance that is hazardous on the property. Borrowers shall not permit any activity that will violate the environment’s law, condition, or creates a condition that will affect the property’s value. 5. The lender must cover the default, the remedies for curing the default; date from the time the borrower was issued with the notice. Also, the notice covers the failure for curing the default on or before the specification date in the notice. Failure may result to acceleration of secured sums secured by the security instruments and the property’s sales. The notice also informs the borrower’s right to reinstate in case of acceleration An interest-rate cap dictates the maximum amount an interest rate can raise. The interest caps can either be periodic or overall caps. Periodic caps limit the increase in interest rate from an adjustment period to the other. Overall caps limit the increase in interest rate over the life of a loan. All adjustable rate mortgages must have periodic and overall caps. Supposing the Adjustment-Rate mortgages has a periodic cap of 2%. During the first adjustment the index rate increases by 3%. Computations will be as When the interest rate drops, the monthly payment does not always drop. Adjustment rates having the periodic caps, their amount of payment might increase although their index rate

Technology, Strategy and Innovation Essay Example | Topics and Well Written Essays - 1000 words

Technology, Strategy and Innovation - Essay Example In Europe, firms with less than 10-49 employees are termed small firms, whereas firms with 50 to 249 employees fall under the definition of SMEs. SMEs usually tend to have greater market power than small firms and constitute around 99% of the total global enterprises (Shapira, n.d.). Despite their strength in numbers, a heavily competitive and globalized business environment is causing SMEs to struggle in order to compete effectively with large corporate companies. Particularly so because large companies have greater resources to influence the market power of SMEs. Their vast resources of manpower, materials, machines and money can be used to counter any competitive threat from SMEs. Under such circumstances, innovation in new products and business strategies becomes the only way for SMEs to survive. According to Fagerberg (2004), innovation is the process through which firms create and develop knowledge to develop new and improved products and services. On the other hand, Bordia et al. (2005) define innovation as the ability to define and develop new products and services and deliver them to market. According to Susman et al. (2006, p.16), innovation usually takes place in products, processes and markets. This paper discusses the importance of innovation in SMEs and how it is practiced. Innovation in small enterprises Innovation in firms is usually practiced through six channels: product, process, activities, non-technological, organizational, and marketing. The chart below provides a comparison of the popularity of various innovation channels in SMEs and large organizations. (Shapira, n.d., p. 2) From the chart, it is evident that process and organizational innovation in large organizations is carried out on a larger scale than in SMEs. In all other innovation channels, SMEs are not far behind large organizations. Product and process innovation together are termed as technological innovation because utilization of new technology is an essential characteristic of both. Product innovation utilizes new technology to develop innovative products. The iPhone is a good example of product innovation. When all other mobile phone manufacturers were concentrating on manufacturing traditional mobile phones, Apple came out with a touchscreen phone and created history. Many people have the illusion that technological innovation is the sole monopoly of large organizations. However, such innovation is possible in SMEs too. Bennet (1994, p.147) points out that smaller organizations are even more technologically advanced than the larger ones. It should be noted that when Hotmail was first introduced by Sabeer Bhatia and Jack Smith it was an innovative service. After witnessing its popularity and realizing its potential, Microsoft acquired Hotmail later. Companies such as Google and Apple are busy acquiring the patents of many innovative products and services from SMEs. In short, product innovation in SMEs is not facing any barriers. On the other hand, pr ocess innovation in SMEs is taking place at a slower pace. Process innovation refers to improvements in production and delivery methods. Six Sigma implemented at Motorola is an example of process innovation. The core of process innovation is to eliminate or reduce costs of production, reduce waste, improve marketing and logistics operations, etc. Process innovati

Smart classroom Essay Example | Topics and Well Written Essays - 250 words

Smart classroom - Essay Example Therefore, this paper aims to take a critical view of the use of smart classrooms, and its effect on the teaching/learning process, highlighting both its challenges, and the possible means to address these. In order to provide a more coherent discussion of the topic of smart classrooms, the study has a six structure, aimed to fostering better understanding of the topic. Therefore, the first part analyses the issue of smart classrooms from the teachers’ perspective, while looking into the benefits brought about by smart classrooms, especially by augmenting collaboration between students throughout the process of learning. The second part of the paper analyses the composing elements of smart classrooms. Furthermore, the possible challenges that are likely to occur while trying to implement smart classrooms are discussed under the final part of the present paper. Before entering deeper into the field of modern education, and the issue of whether smart classrooms have changed the understanding of traditional education, we will first proceed with explaining what smart classrooms actually are. According to Huang, Hu, Yang and Xiao (2012) smart classrooms are a sort of advanced technology which is designed to improve the learning experience and the classroom environment, enhancing both the learning and the teaching process simultaneously, by means of the newly introduced learning technology. This technology, as further explained by Huang, Hu, Yang and Xiao (2012), consists of PCs, various programmes, materials, innovative listening gadgets, and audio-visual devices or networks. Following the same direction, other researchers (e.g. Di, Gang and Juhong, 2008) point to the importance that the newly introduced technology acquire, to such an extent that they have turned into a vital device; a tool that plays an effective role in transferring and exch anging information within the IT governed environment. An important aspect that is

Argument paper FOR the legalization of marijuana Essay

Argument paper FOR the legalization of marijuana - Essay Example The economic feasibility of decriminalizing marijuana has become a much-discussed subject in recent years. The federal government presently spends a lot of capital on law enforcement to combat distributors and producers of drugs. By legalizing drugs this could eradicate much of the profit, bloodshed and corruption of that trade. If legalizing drugs is to have a positive effect on the crime rate, drugs must be made both inexpensive and available. Studies have repetitively suggested that prohibiting marijuana in the U.S. has not shown to be efficient or effective. According to the Drug Policy Alliance, â€Å"U.S. federal, state and local governments have spent hundreds of billions of dollars trying to make America ‘drug-free.’ Yet heroin, cocaine, methamphetamine and other illicit drugs are cheaper, purer and easier to get than ever before. (â€Å"England.† 2006) The damage done by the ‘war on drugs’ to underprivileged countries that produce the drugs and poor persons within the wealthy nations who buy the drugs exceeds any benefits achieved by the current bans. These government’s drug laws have not produced the desired results of reducing drug use, instead a great number of innocent people have had their lives ruined. â€Å"Many critics argue that the increased toughness of that policy has done more harm than good. Some go so far as to suggest that drugs should simply be legalized† (Caulkins, et al. 2005). If marijuana were legalized, governments would have the ability to regulate quality and, like alcohol, the ages allowed to purchase and the ability to add safety warnings to help educate users. People in this country who only use small amounts of marijuana have routinely been arrested and jailed for mere possession; actions that don’t take drugs off the streets or persuade more people to quit using the them. At the same time, imprisoning those who possess marijuana creates a burden on society as tax dollar s must be increased to support these people who are no longer free to secure employment outside prison. The domino effect of this circumstance puts more children and their families onto the welfare roles, contributing to their consequential failure and dependence on society. (â€Å"England.† 2006) â€Å"In the United States, drug use is illegal and the police hunt down drug users to throw them in prison. Four thousand people died from illegal drugs in the US last year and we now have more than 600,000 people in prison on drug charges.† (Schaffer, 2006) While much literature exists that provides evidence for both sides of this subject, what seems very clear is that the ‘war on drugs’ remains unsuccessful at its principal goal – that of stopping drug use within the nation’s border. High school students continue to find marijuana extremely easy to come by, numbers regarding the use of marijuana remain stable and there is an increasing trend in t he country for reforming the archaic laws. The entire reasoning behind drug war is prohibition, limiting the supply which would in turn limit use. (Males, 2010). The hypothesis holds that by limiting the source so as to make it practically impossible to acquire the demand for these products will inevitably, and somehow magically, disappear. Prohibition strategies