Using Balanced Scorecard in ENOC

Using Balanced Scorecard in ENOC Introduction First developed by Robert Kaplan and David Norton at Harvard University, the Balanced Scorecard BSC approach has become a major method for corporations to improve their performance, with studies indicating that more than 66% of the companies that implemented the approach realized a significant increase in profitability (Kaplan Norton, 2011).Advertising We will write a custom report sample on Using Balanced Scorecard in ENOC specifically for you for only $16.05 $11/page Learn More In addition, a number of local governments, military and national civil organizations have been using a BSC approach to improve their performances. In the UAE, Emirates National Oil Company (ENOC) is one of the best examples of corporations that are applying the BSC to set its goals and achieve the desired objectives. The company has rolled out several programs to apply BSC in line with its goals and objectives with an aim of promoting human capital development by focu sing on the young UAE nationals with their careers for the better future. The company started adopting the concept of BSC in 2009 on a number of levels, with about 35 scorecards implemented in all business units. According to analysts, the company has attained some impressive milestones with BSC. For instance, customer satisfaction, enhancing efficiency in operations and promoting Emiratization is some of the significant outcomes of the approach. Nevertheless, a comprehensive understanding of the outcomes of using BSC need be studied every year to determine the progress. There is a need for additional studies show how the company has achieved the desired goals using the BSC. The results of the study are applicable not only in academics, but also in management and policy making in order to provide analysts, policy makers and corporate leaders utilize the information to enhance the quality of their professional decisions. Aims and objectives The purpose of this study is to develop a c omprehensive analysis of BSC application and use at ENOC. The research uses a qualitative approach to describe the level of outcomes of BSC at the company since the approach was adopted in 2009. The research aims to interview some professionals and executive individuals at the company in order to determine the level of BSC as well as the outcomes of the approach.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Key Research questions What strategies has ENOC employed in applying and using BSC? What are the corporate expectations of using the BSC At what levels are BSC approach applied at ENOC? What are the outcomes of using ENOC in terms of corporate performance? Review of literature Although it is a recent approach, balanced scorecard has become popular with most organizational leaders in the modern context. By definition, the BSC is a methodological tool composed of a set of b oth financial and non-financial measures regarding to the success factors of a given company or organization (Kaplan Norton, 2011). It reflects that need for strong and effective organizational activities used to create value. Since its development, BSC has widely been studied from a practical perspective where case studies are used to examine its effectiveness as well as differences in corporate performance between the organizations that adopt and those that fail to adopt the concepts of BSC (Akkermans von Oorschot, 2002). In addition, it has been studied by examining the differences in performance or outcomes between the departments that adopt and those that fail to adopt the concepts. From these studies, a number of observations have been made, most of which provide a clear indication that BSC is an important tool in measuring and enhancing performance in organizations. According to Ashurst and Doherty (2013), it has been shown that BSC ensures that strategic initiatives that f ollow best practices are cascaded throughout the entire organization, which helps in increasing creativity and other ideas that are not expected prior to the adoption of the concept. The author further indicates that BSC helps organizational leaders to overcome three foundational problems that cause challenges in the work of management- performance measurement, strategic implementation and rise of intangible assets. According to Kaplan and Norton (2010), the traditional methods of measuring financial performance fail to reflect critical aspects of the modern business environment and fails to encourage thinking on a long-term basis. Thus, BSC is set to deal with this problem. Secondly, it has been shown that intangible assets have the capacity to create more than 75% of the value that organizations achieve per given time (Kaplan Norton, 2010). With the traditional methods, it was not possible to measure and use these assets.Advertising We will write a custom report sample on Using Balanced Scorecard in ENOC specifically for you for only $16.05 $11/page Learn More On the other hand, the concept of BSC is effective in providing the metrics required to measure and use these assets effectively (Abushaia Zainuddin, 2012). Moreover, BSC deals with the problem of successfully implementing strategies by working with vision, people and management of resources and barriers to development. In this context, BSC helps in measuring the strategy and the process of executing the strategy. It describes the strategy in s consistent manner throughout the company (Kaplan, Norton HorvÐ ±th, 2006). According to Inamdar, Kaplan and Bower (2012), BSC articulates how an organization creates value for its owners or shareholders by displaying the key priorities as well as relationships between the outcomes and the factors that enable performance. In other words, it displays the relationships between cause and effects in an organization in order to measure pe rformance and create value for the shareholders (Frost, 2012). Methodology Study design A qualitative study was developed to examine the effects of balanced scorecard BSC at ENOC. In this case, ENOC was used as a case study in order to examine how organizations adopt the concept of BSC and the benefits that come along with the idea. The idea was to interview leading corporate managers and leaders at the company in order to draw information from their experiences with the company and the concept of BSC used therein. Study sample The study focused on interviewing two managers at ENOC. The managers were chosen because they have been involved in the implementation and maintenance of the BSC concept since it was adopted in 2009. Secondly, six employees were interviewed to determine their perceptions and experience with the idea of BSC at their workplace. The idea is to determine the outcomes of the BSC concept at the workplaces. The inclusion criterion was to interview individuals who ha d been at the company for at least 5 years since 2009.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Data collection Interviews were used to collect information from the target corporate leaders and employees. Each interview took a maximum period of 15 minutes. Structured interview questions were used, with the interviewers playing the role of directing the mood of the discussion. Results Saeed Khoory, the CEO of ENOC, said that the company used the BSC to help it uphold the highest values across all the aspects of the organization. In addition, the CEO said that using BSC was aimed at promoting excellence across all the entities by focusing on continuous improvement and adopting BSC as one of the best international tools for management. He further notes that the tool is a gold standard against which benchmarking of the company’s growth goals id done. Salah Galadari, the director of business planning and performance management at the company, reported that adopting the BSC concept was aimed at streamlining the company’s strategic growth. The six employees reported tha t they were satisfied with the new methodology because it encouraged them to work for the good of the organization as well as personal development as an employee. It provides them with an opportunity to be part of the organization process. Conclusion From the interview, it was found that ENOC uses several initiatives to implement BSC. The idea of Emiratisation program is developed and implemented through five levels that are supported by BSC- Mahaweb, Tadreeb, Ajyaa, Imtiaz and Tatweer. They focus on developing behavioral, managerial, professional and leadership skills for the national workforce. The results indicate that BSC has huge benefits for the organization because it aids in aligning people, processes and resources towards enhancing production and performance. BSC has helped the company integrate employees, processes and customers in the vital focus on development and growth. Therefore, the company has attained some impressive milestones with BSC. For instance, customer sati sfaction, enhancing efficiency in operations and promoting Emiratization is some of the significant outcomes of the approach. The company uses balanced scorecard to articulate how it creates value for the government and the public by displaying some key priorities as well as relationships between the outcomes and the factors that enable performance. References Abushaia, J. A., Zainuddin, I. (2012). Performance measurement system design, competitive capability, and performance consequences – A conceptual like. International Journal of Business and Social Sciences, 3(11), 184-193. Akkermans, H., von Oorschot, K. (2002). Developing a Balanced Scorecard with System Dynamics. Journal of the Operational Research Society, 12(2), 349-352. Ashurst, C., Doherty, N. F. (2013). Towards the formulation of â€Å"a best practice† framework for benefits realization in IT projects. Electronic Journal of Information Systems Evaluation, 6(3), 1-10 Frost, B. (2012). Measuring performan ce: Seven good reasons to use a scorecard. Performance perspective series, 3(2), 214-251. Inamdar, N., Kaplan, R. S., Bower, M. (2012). Applying the balanced scorecard in healthcare provider organizations. Journal of healthcare management/American College of Healthcare Executives, 47(3), 179-95. Kaplan, R. S., Norton, D. P. (2010). The balanced scorecard: translating strategy into action. Boston, MA: Harvard Business Press. Kaplan, R. S., Norton, D. P. (2011). Transforming the balanced scorecard from performance measurement to strategic management. Accounting horizons, 15(1), 87-104. Kaplan, R. S., Norton, D. P., HorvÐ ±th, P. (2006). The balanced scorecard. Boston, MA: Harvard Business School Press.

les demoiselles davignon essays

les demoiselles d'avignon essays Classical artists will always be remembered for building the foundations of art. However, there were many revolutionary artists after their time that revolutionized art into what it is today. Impressionists, led by Claude Monet, formed a group of artists originally rejected from the academies to paint in their own "objective reality." They painted art as sifted through their senses; taking into account the environment's affect on an object or placing the focus on everyday activity, the impressionists helped redefine art. While they started the process of the transformation of art, Pablo Picasso advanced it many times over, changing the face of art more profoundly then any other artist. Picasso painted art by what views he saw in his head and imagination, not by how his eyes or other senses interpreted a scene. He shamelessly broke all the classical rules of three-dimensional space, colors, figures and subject matter. In a style called "cubism", Picasso painted one of the most pivota l works of art in history, and began a new era with a single work of art. In Les Demoiselles d'Avignon, he painted his initial attempt at breaking all classical rules and changed the world of painting forever. One aspect of Pablo Picasso's art that distinguishes him from earlier artists is the lack of three-dimensional space displayed in his art. In Les Demoiselles d'Avignon, the five lady figures seem to be enveloped in what might be construed as the background. In contrast to earlier Raphael paintings for instance, where red drapery serves as a frame for Mary and baby Jesus, Picasso's figures appear to be actually wearing the drapery. The far woman on the left appears without clothes, except for the piece of red drapery strewn across the right side of her body. Each successive figure shows her full body with the exception of where the drapery covers her. By redefining the three-dimensional space and forcing the characters to take on the full focus of th...

Case study 1 Assignment Example | Topics and Well Written Essays - 250 words

Case study 1 - Assignment Example The child’s presence should also be used as a learning opportunity for other children (Marotz 102). In case of seizure, in a classroom, the teacher is required to attend to the child in order to avoid further worsening of the situation. The teacher should ensure the children are calm and control the situation. His presence is necessary; the child should be put in the same immobile position as they await medical help. The child’s condition should be evaluated by paying attention to breathing, open airway and circulation. The child’s cloth should be loosened around the neck. There should be no sharp objects around the child to prevent any injury. Seizure comes in various intensity and type. They are often caused by rush of abnormal electric impulses in the brain which trigger involuntary or unmanageable movements in different parts of the body. Some seizure result into momentary attention while others result into interruption of thought. The teacher should arrange safe environments and master emergency response techniques. In case, the situation persists, the teacher is required to seek medical attention. Teachers are supposed to complete a written document, which report their observations during the seizure. This should be placed in the child’s permanent health file. The document should have the following information on the child; child’s name, time and date of seizure, events before seizure, duration of seizure, nature, and location of convulsive movements, condition of child during the seizure, condition of child after seizure, and name of person who observed the report (Marotz

Improving One's Writing Skills via Mastering Literal Skills Essay - 2

Improving One's Writing Skills via Mastering Literal Skills - Essay Example The meticulously written articles in magazines and graphically vivid details illustrated by novel writers tend to be attractive, and challenging in willing me to write similar pieces of literal work but with my touch of originality. Writing began with writing letters to my friends back in Korea and informing them of the changes and differences in culture between the two countries. The intriguing part was the ability to capture the details and put them in a new language portraying my actual emotions and interests abut a new country. I also kept a diary and a journal to document the everyday occurrences in my life, as well as all my embarrassing moments. I find writing enjoyable as I can express that which I feel without any inhibitions of offending others or having to withhold my true emotions. This is achieved through keeping a diary and writing short stories, although not everyone gets to read them, except my close friends and family. In addition, writing helps to think clearly by putting my train of thought in sequential order for later reference. This way it helps organize my thoughts to come up with logical explanations and rational thought thus my love for writing. My writing ability is not that good yet, but I enjoy writing any works that I can think of. I believe I hold good potential in bettering my writing skills to a higher level of communication and interaction with the readers of my works. I think I lack the ability to draw and capture the attention of readers for extended periods. This is in terms of holding their attention and keeping them interested as most of my works tend to be a rollercoaster of interest and disinterest, all depending on the readers emotional and logical inclination. In this course, I hope to develop the ability to master literal skills so that my written works do not end up sounding bland, general or below par.  

Autobiography Essay Essay Example for Free

Autobiography Essay Essay Many people in today’s society think just because I am a young lady I have an easy fun filled life. Well, that is not true. Life has many ups and downs but it is up to us whether we want it to be a successful one or not. Life is filled with obstacles for us to overcome no matter how tragic. Back in 2009, the most unexpected tragedy I thought that would never happen occurred. My grandfather died in September and my grandmother died in December. It was a hard and difficult time for me because they both died within a matter of four months apart from each other. Another incident occurred that was almost fatal. My brother was involved in a car accident in Kemp Road last year May. The accident was so horrific, the right side of his body was paralyzed. He had to do therapy at Doctors Hospital so he could drive and walk properly again. Sometime in everyone’s life, they are either nervous or scared to take an examination. I had my experience of nervousness when I had to take my national examination. In the Bahamas, the national examination is a test students would have to take for the Bahamas General Certificate of Secondary Education (B.G.C.S.E.) or the Bahamas Junior Certificate (B.J.C.). The exam I had to take was Music which consists of theory and a practical exam. Theory means to listen to a musical piece and answer questions about it and practical means to play a musical piece. When it was my turn to perform my musical piece, I panicked but I tried my best to keep calm. Yes, millions of butterflies were in my stomach just like any other person would have before a big exam like that one. As I played my piece, the millions of butterflies I was experiencing were decreasing by each note I played. By the time as I finished playing my piece, I was confident I passed and I did with a B. One of my greatest successes I achieved in my life is graduating from Aquinas College Catholic High School and receiving my diploma. I was very  satisfied with my accomplishment and achievement and made my parents proud. My other success in life is obtaining my driver’s license. For a teenager, having your license is a big deal because it is one step closer to freedom. Most persons could not say they have their first godchild until the age of 30, but I had the privilege of having my first godchild at the age of 16. Her name is Danielle Rigby and she is my pride and joy. Some other successes in my life are cooking and playing the flute from the age of 10, playing my clarinet from the age of 15 and being accepted into the great Bethune Cookman University. Some of the Bahamian dishes I can make are curry chicken and white rice, friend plankton, potato salad, BBQ ribs, minced lobster and many more. I have been playing the flute for nine years and counting, and I treat it just like a young baby. My future goals and aspirations are to graduate from college with honors, obtain a career where I can prove I am worth being there by working to the best of my ability and having a family of my own someday. All of these things I went through to become the young lady I am today. This is my life, my story.

Constitutional Framers Essay -- American History, The Federalists

The Confederation congress was plagued with problems as the former colonies struggled to form a national identity. The lack of permanent physical location and united national government led to problems of inaction, following the Revolutionary war. â€Å"Congress’s lack of power and frequent inability to act (often due to a lack of quorum or the need for a supermajority for certain decisions) demanded reform† (Wirls 58). The founding fathers agreed on the need for a stronger national government however two opposing groups argued about the nature of its composition. Federalists argued for a strong national government, with a few representatives, removed the day to day local political affairs. They desired a group of political elite leaders, free to make decisions based on national interests. In order to promote an independent nature within the senate, Federalists promoted long terms, some advocating lifetime appointments. The anti-Federalists rejected the ide a of permanent elite and instead promoted a large number of representatives with small groups of political constituents. Rather than the crà ¨me de la crà ¨me of society, anti-Federalists promoted a kaleidoscope vision; representatives would personally reflect the interests of their constituents. During the final constitutional plan for the U.S. Senate a compromise was reached between the two groups; the anti-Federalist views were incorporated in the equal apportionment and appointment by the states, Federalists promoted independence in the senate by instituting staggered six year terms. The compromise between the Federalist and anti-Federalist was reached through a series of decisions, in part helped by the fact that those against strengthening the Federal governme... ...the senate, the convention was able to move forward in forming a national government with responsibilities and rights separate from those of the states. The Federalists were able to preserve the independence of the senate through six year terms and more stringent eligibility requirements than those for the House of Representatives. The eventual formation of a separate national capital ensured the both physically as well as psychologically desired independence of the senate and congress desired by the Federalists. The members of both sides present shared a mutual understanding of the need for a senate in a stronger national system. The decisions which lead to the compromise resulted in the creation of a senate through the Constitution which included both Federalist and anti-Federalist views as well as creating unintended consequences neither side anticipated.

How Life Was Growing Up Essay

Being the youngest sibling of three has always been hard on me. I was the only girl and growing up with my two brothers has always had its downfalls. I not only had to be around my brothers at all times, I was also surrounded by too many male cousins. Quite frankly, I can count how many female cousins I have in one hand. It is a real shame what a girl had to do just to be one of the guys. I was seven years old at the time and I still remember what happened like it was just yesterday. For the summer break my brothers and I along with our cousins stayed with our grandparents. My grandparents own acres and acres of land in the Philippines. Day by day we did nothing but run around the field, tackled each other, scared off the animals, and climbed trees. One summer day, we were playing tag and two of my cousins mentioned that they were getting bored. We then started playing truth or dare. Everything was going smoothly until I was dared to climb the highest tree my grandparents had. I was dared to climb the tree to picked fruits for everyone. Without thinking about it, I climbed the tree so fast with confidence I thought I was a super girl. However, what they did not know was I was scared of heights. I was trying my best to hide my fear, but as I looked down the ground, I started screaming for help. I watched my cousins along with my brothers laughed so hard few tears were coming down the side of their eyes. I then started crying out for help. Eventually one of my brothers came to my rescue. However as I was going down, one of my feet slipped. As I tried grabbing on to something for support, my life flashed before my eyes. As I was falling, nothing but grasp for air was the only sound you could hear. I fell onto the ground twelve feet high and fracture my forearm. It has been 18 years since the incident happened. Until this day, the memory of how I broke my arm still lives on through gathering with my families. As an adult, we still tend to make silly decision just to fit in. Whether it is done at work, around new people, around in-laws, and even around your own family, impressions are still a great deal for every single individual. No matter how young or old you may be, silly actions are bound to happen.