ABC Solutions is a traditional company in textile industrywith a combined workforce of 150 staff. Due to increased levels of competition, this company is now increasingly finding it difficult to compete – especially as the larger companies seem to be a little more innovative, agile and responsive to client requirements. Management have noticed that staff, especially the highly skilled ones, are now leaving the company to seek work elsewhere (in these larger companies). This has meant appointing new staff and undertaking a considerable amount of re-training to replace those that have left the company. Apart from impacting on core business operations, ABC Solutions has started witnessing a drop in its profit margin. Given this position, senior management at ABC Solutions have decided to implement a performance measurement tool (PMT) that would allow them to align the strategic, management and operational requirements of the business. They are therefore considering the adoption of the Balanced Scorecard (BSC) or Performance Prism (PP) tools to improve on the overall business performance. However, this is completely new to them (and they have never done this before). As the newly appointed project manager for ABC Solutions, management would like you to write a report advising them on: 1. the rationale for choosing either the Balanced Scorecard or Performance Prism How the performance measurement tool you recommend above could be used to improve the overall business performance of ABC Solutions.
ABC Solutions is a traditional company in textile industrywith a combined workforce of 150 staff. Due to increased levels of competition, this company is now increasingly finding it difficult to compete – especially as the larger companies seem to be a little more innovative, agile and responsive to client requirements. Management have noticed that staff, especially the highly skilled ones, are now leaving the company to seek work elsewhere (in these larger companies). This has meant appointing new staff and undertaking a considerable amount of re-training to replace those that have left the company. Apart from impacting on core business operations, ABC Solutions has started witnessing a drop in its profit margin.
Given this position, senior management at ABC Solutions have decided to implement a performance measurement tool (PMT) that would allow them to align the strategic, management and operational requirements of the business. They are therefore considering the adoption of the Balanced Scorecard (BSC) or Performance Prism (PP) tools to improve on the overall business performance. However, this is completely new to them (and they have never done this before).
As the newly appointed project manager for ABC Solutions, management would like you to write a report advising them on:
1. the rationale for choosing either the Balanced Scorecard or Performance Prism How the performance measurement tool you recommend above could be used to improve the overall business performance of ABC Solutions.
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