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The balanced scorecard was initially proposed as a general purpose performance management system. [4] Subsequently, it was promoted specifically as an approach to strategic performance management. [5] The balanced scorecard has more recently become a key component of structured approaches to corporate strategic management. [6]
Business performance management (BPM) (also known as corporate performance management (CPM) [2] enterprise performance management (EPM), [3] [4] organizational performance management, or performance management) is a management approach which encompasses a set of processes and analytical tools to ensure that an organization's activities and output are aligned with its goals.
SCOR was developed in 1996 [3] [4] by the management consulting firm PRTM, now part of PricewaterhouseCoopers LLP (PwC), and AMR Research, now part of Gartner, and endorsed by the Supply Chain Council, now part of ASCM, as the cross-industry de facto standard strategy, performance management, and process improvement diagnostic tool for supply ...
Strategic management tools. In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
Strategic implementation is often associated with performance management. Tools such as balanced scorecard and its derivatives such as the performance measurement, or the ACME (Articulate, Communicate, Monitor and Engage) framework. [11] can be practical and useful to successfully implement a strategy.
Although strategic control is a general management topic rather than a prescriptive tool, its reliance on feedback on organisational performance has resulted in a long association with performance management tools such as the balanced scorecard and its derivatives such as the Performance Prism, and with related strategy implementation / execution frameworks such as the ACME framework, [15] the ...
Performance Reference Model of the Federal Enterprise Architecture, 2005. [6] Defining performance measures or methods by which they can be chosen is also a popular activity for academics—for example a list of railway infrastructure indicators is offered by Stenström et al., [7] a novel method for measure selection is proposed by Mendibil et ...
RBM is an example of a tool used for strategic control.It uses feedback loops to help managers monitor and then (hopefully) achieve strategic goals. These goals may take the form of physical outputs, organizational or behavioral changes, workflow changes, or form contribution to some other higher level goal.
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