Sunday, May 24, 2020
A History of the Oreo Cookie
Many people have grown up with Oreo cookies. The twist or dunk debate has been around for decades, with one side claiming that the chocolate sandwich cookie is best separated into two halves and eaten as such and the other side claiming that the treats are meant to be enjoyed by dunking them straight into a glass of milk. Whatever camp you are a part of, it is safe to say that most find the cookie delicious. Oreos have become an icon of 20th-century culture. From Oreo-based dessert recipes spreading on the internet to festival favorites featuring the beloved cookie, it is clear that the world has a soft spot for this famous snack, and the cookie has only grown in popularity since it was invented in 1912, propelling it to the rank of best-selling cookie in the United States. Oreos Are Introduced In 1898, several baking companies merged to form the National Biscuit Company, also called Nabisco. This was the beginning of the corporation that would create the Oreo cookie. In 1902, Nabisco rolled out Barnums Animal Crackers for the first time, making them famous by selling them in a little box designed like a circus animal cage that featured an attached string so that the box could be hung on Christmas trees. In 1912, Nabisco had an idea for a new cookie, though it wasnt exactly its ownââ¬âtwo chocolate disks with a creme filling in between had been done already by the Sunshine Biscuits company in 1908, which called the cookie Hydrox. While Nabisco has never named Hydrox as its inspiration, the Oreo cookie invented four years after the world was introduced to Hydrox closely resembled the biscuit that preceded it: two decorated chocolate discs with white creme sandwiched between them. Despite its potentially suspicious origination, the Oreo made a name for itself and quickly surpassed the popularity of its competitor. Nabisco made sure to file for a trademark on the new cookie soon after its creation on March 14, 1912. The request was granted on August 12, 1913. The Mysterious Name When the cookie was first introduced in 1912, it appeared as an Oreo Biscuit, which changed in 1921 to an Oreo Sandwich. There was another name change in 1937 to Oreo Creme Sandwich before the company settled on the name that was decided upon in 1974: Oreo Chocolate Sandwich Cookie. Despite the roller coaster of official name changes, most people have always referred to the cookie simply as an Oreo. So where did the Oreo part even come from? The people at Nabisco arent quite sure anymore. Some believe that the cookies name was taken from the French word for gold, or (the main color on early Oreo packaging). Others claim the name stemmed from the hill-shaped test version that never even made it to store shelves, inspiring the cookie prototype to be named the Greek word for mountain, oreo. Some speculate that the name is a combination of taking the re from cream and sandwiching it, just like the cookie, between the two osà in chocolateââ¬âmaking o-re-o. Still others offer the bare explanation that the cookie was named Oreo because it was short, fun, and easy to pronounce. Though the true naming process may never be revealed, that has not affected Oreo sales. As of 2019, it was estimated that 450 billion Oreo cookies have been sold since 1912, planting it firmly at the top of cookie sales and winning over the hearts of millions. Changes to the Oreo The original recipe and signature look of the Oreo has not changed much, but Nabisco has been pumping out limited new looks and flavors for years, right beside the classic. The company started selling various versions of the cookie as its popularity grew. In 1975, Nabisco released its celebrated Double Stuf Oreos. A few of the other most welcomed varieties and themes created over the years include: 1987: Fudge covered Oreos introduced 1991: Halloween Oreos introduced 1995: Christmas Oreos introduced Through ambitious new flavors of the cookie, the design of the chocolate discs has been a constant, outside of color changes. The wafer design that has stuck around for the longest and was brought into existence in 1952 has remained much the same since then. As far as the recipe of the Oreo goes, the delicious filling that has contributed to the success of the cookie has evolved very little. It was created by Nabiscos principal scientistà Sam Porcello, who is often referred to as Mr. Oreo. His recipe for the classic creme has been only slightly altered since 1912, outside of primarily limited-edition flavors. Nabisco and the world agree that the Oreo recipe and design are far from broken, so there is no need to fix them. Oreos are well-loved just as they are and are sure to be around for many years to come.
Wednesday, May 13, 2020
How Does Frankenstein Benefit from Walton as a Narrator
How does the novel Frankenstein benefit from Walton as a narrator? By Alex Hewitt The beginning and ending of the novel Frankenstein are written in epistolary form as a series of letters from Robert Walton, to his sister. The letters are unusual as they contain very little information about Waltonââ¬â¢s sister and mostly detail Waltonââ¬â¢s exploits in exploring the Arctic in search of the North-West Passage, in this way resembling journal entries instead of letters. While Walton spends many pages explaining his adventures in a ââ¬Å"land surpassing in wonders and beauty,â⬠the few questions asked to his sister are either rhetorical such as ââ¬Å"do you understand this feeling?â⬠which is also condescending, snidely suggesting his sisters incapacity toâ⬠¦show more contentâ⬠¦As well as this, as noted by Nora Cook in A Companion to the Gothic, the combination of the above with the confusing circumstances as the actual writing of the novel such as if Walton made it home, did his sister edit his letter and who added the finishing touches such as ââ¬Å"17-?â⬠As Cook states, ââ¬Å"there can be no answers to these questions and the reader is never sure whether these are the proper ones to ask.â⬠These stacked layers of unreliable narration mean the novel can be the multi-faceted novel that it has become. On learning that Shelleyââ¬â¢s original intention was for the novel to be a word of mouth ghost story, starting with the lines ââ¬Å"it was a dreary night in Novemberâ⬠that changed over time, a conclusion can be reached that the use of unreliable narration is important because it leaves the novel up for interpretation on a number of features and with numerous possible meanings. For example it could be seen as anything from an exploration of Shelleyââ¬â¢s post-natal depression to a warning against the dangers of aggressive science and ambition, a classic gothic novel to the first science fiction novel ever written, a massive religious analogy or the importance of appearance. When the reader is bogged down with so many layers of potential lies, when they will never know if what they areShow MoreRelatedRomantic Elements Of Frankenstein1358 Words à |à 6 PagesFra nkenstein; or The Modern Prometheus, is a novel written by English author Mary Shelley in 1816. 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By embarking on his arctic exploration mission, he placesRead MoreThemes of Frankenstein3337 Words à |à 14 PagesThemes of Frankenstein Frequently, literature is intended to convey a significant idea or theme to it s readers regarding events that occur in our everyday existence. Occasionally these ideas appear in the context of straightforward characterization, but in some literatures, such as Marry Shelley s Frankenstein, these themes come to us in the guise of monsters, goliaths, dragons, gods, and myriads of fantasy-like components that express meaning in ways impossible within the boundaries of realityRead MoreScience May Be Interesting To Most, But Its Development1781 Words à |à 8 Pagesdevelopment has the potential to be absolutely terrifying. We are warned of this in Mary Shelleyââ¬â¢s Frankenstein. This extremely famous novel is about a scientist named Victor Frankenstein who creates a grotesque creature, using electricity. Many assume the creatureââ¬â¢s name to be Frankenstein as it may be depicted in movies but this is false, as the scientistââ¬â¢s name is Frankenstein and the monster does not have a name. New developing science allows Victor to create this creature which, as we learn throughoutRead MoreEssay on The Gothic Genre and What it Entails6177 Words à |à 25 PagesI think that the superior, enduring Gothic texts definitely reflect political ideal and contemporaneous social features which touched the vast majority of people. This is especially apparent if one traces the maturation of the form from Walpole (1764) to Mary Shelley (1818) and Maturin (1820). (For example William Godwins Caleb Williams (1794)had an overt political message intended to expose the inadequacy of Things as they are). During the development of the GothicRead MoreFigurative Language and the Canterbury Tales13472 Words à |à 54 Pagesverses together, to make lines more memorable, and for humorous effect. â⬠¢ Already American vessels had been searched, seized, and sunk. -John F. Kennedy â⬠¢ I should like to hear him fly with the high fields/ And wake to the farm forever fled from the childless land. -Dylan Thomas, ââ¬Å"Fern Hillâ⬠3. allusion: A casual reference in literature to a person, place, event, or another passage of literature, often without explicit identification. Allusions can originate in mythology, biblical references
Wednesday, May 6, 2020
Decision Making Across the Organization Free Essays
The Martinez Company has decided to introduce a new product and would like to evaluate the costs of manufacturing through capital intensive and labor intensive manufacturing methods to determine which of the two methods to employ. The values to be used in the evaluation for capital intensive manufacturing are direct materials at $5 per unit, direct labor at $6 per unit, a variable overhead of $3 per unit, and fixed manufacturing costs of $2,508,000. The values for material, labor, and overhead are summed to find the total variable cost of $14. We will write a custom essay sample on Decision Making Across the Organization or any similar topic only for you Order Now The labor intensive values are direct materials at $5.50 per unit, direct labor at $8 per unit, a variable overhead of $4.50 per unit, and fixed manufacturing costs of $1,538,000. The research department of Martinez recommended an introductory price unit sales price of $30. Incremental selling expenses are estimated to be $502,000 annually plus $2 for each unit sold regardless of the method used to manufacture. Capital Intensive To calculate capital intensive estimated break-even point in annual unit sales of the new product the contribution margin per unit and contribution margin per ratio are necessary. The equation for contribution margin per unit is Selling Price + Variable Cost, or $30 + $14, for a contribution margin per unit price of $16. The equation for contribution margin ration is Contribution Margin per Unit / Selling Price, or $16/$30, for a contribution margin ratio of 53%. The break-even point in units is calculated by dividing the fixed costs by the contribution margin per unit value, $2,508,000 / $16 = 156750 units as the break-even point. The fixed costs divided by the contribution margin ratio, $2,508,000 / 53% = $4,702,500 break-even point in dollars. Labor Intensive To calculate capital intensive estimated break-even point in annual unit sales of the new product the contribution margin per unit and contributionà margin per ratio are necessary. The equation for contribution margin per unit is Selling Price + Variable Cost, or $30 + $18, for a contribution margin per unit price of $12. The equation for contribution margin ratio is Contribution Margin per Unit / Selling Price, or $12/$30, for a contribution margin ratio of 40%. The break-even point in units is calculated by dividing the fixed costs by the contribution margin per unit value, $1,538,000 / $12 = 128,167 units as the break-even point. The fixed costs divided by the contribution margin ratio, $1,538,000 / 40% = $3,845,000 break-even point in dollars. Unit Sales Volume of Indifference The volume of unit sales at which the Martinez Company would be indifferent between the two manufacturing methods is calculated as Sales = Variable Costs + Fixed Costs + Net Income. The value for sales is equivalent to the sales price, $30, multiplied by the number of units sold. Variable costs of $14 for capital intensive and $18 for labor intensive are also multiplied by the number of units sold. Fixed costs were provided at $2,508,000 for capital intensive and $1,538,000 for labor intensive. Net income is assumed to be $0. The equation values for 180,000 units under capital intensive manufacturing and 240,000 under labor intensive manufacturing is the volume of units for each method to equal sales of $2,880,000, the point at which the annual unit sales volume would be indifferent. Conclusion Evaluating the costs of manufacturing help management to make crucial decisions about methods of manufacturing that will result in profit for the business. Evaluating the capital intensive manufacturing method versus the labor intensive method provides the values necessary to make business decisions. The circumstances in which the Martinez Company would employ a capital intensive manufacturing method for the new product, based on the numbers provided in the scenario, would be if the contribution margin and per unit cost were cheaper than the labor intensive values. In this scenario, the labor intensive values offer a smaller break-even point value for units and dollars than the capital intensive method of manufacturing. How to cite Decision Making Across the Organization, Papers Decision Making Across the Organization Free Essays The Martinez Company has decided to introduce a new product and would like to evaluate the costs of manufacturing through capital intensive and labor intensive manufacturing methods to determine which of the two methods to employ. The values to be used in the evaluation for capital intensive manufacturing are direct materials at $5 per unit, direct labor at $6 per unit, a variable overhead of $3 per unit, and fixed manufacturing costs of $2,508,000. The values for material, labor, and overhead are summed to find the total variable cost of $14. We will write a custom essay sample on Decision Making Across the Organization or any similar topic only for you Order Now The labor intensive values are direct materials at $5.50 per unit, direct labor at $8 per unit, a variable overhead of $4. 50 per unit, and fixed manufacturing costs of $1,538,000. The research department of Martinez recommended an introductory price unit sales price of $30. Incremental selling expenses are estimated to be $502,000 annually plus $2 for each unit sold regardless of the method used to manufacture. Capital Intensive To calculate capital intensive estimated break-even point in annual unit sales of the new product the contribution margin per unit and contribution margin per ratio are necessary. The equation for contribution margin per unit is Selling Price + Variable Cost, or $30 + $14, for a contribution margin per unit price of $16. The equation for contribution margin ration is Contribution Margin per Unit / Selling Price, or $16/$30, for a contribution margin ratio of 53%. The break-even point in units is calculated by dividing the fixed costs by the contribution margin per unit value, $2,508,000 / $16 = 156750 units as the break-even point. The fixed costs divided by the contribution margin ratio, $2,508,000 / 53% = $4,702,500 break-even point in dollars. Labor Intensive To calculate capital intensive estimated break-even point in annual unit sales of the new product the contribution margin per unit and contribution margin per ratio are necessary. The equation for contribution margin per unit is Selling Price + Variable Cost, or $30 + $18, for a contribution margin per unit price of $12. The equation for contribution margin ratio is Contribution Margin per Unit / Selling Price, or $12/$30, for a contribution margin ratio of 40%. The break-even point in units is calculated by dividing the fixed costs by the contribution margin per unit value, $1,538,000 / $12 = 128,167 units as the break-even point. The fixed costs divided by the contribution margin ratio, $1,538,000 / 40% = $3,845,000 break-even point in dollars. Unit Sales Volume of Indifference The volume of unit sales at which the Martinez Company would be indifferent between the two manufacturing methods is calculated as Sales = Variable Costs + Fixed Costs + Net Income. The value for sales is equivalent to the sales price, $30, multiplied by the number of units sold. Variable costs of $14 for capital intensive and $18 for labor intensive are also multiplied by the number of units sold. Fixed costs were provided at $2,508,000 for capital intensive and $1,538,000 for labor intensive. Net income is assumed to be $0. The equation values for 180,000 units under capital intensive manufacturing and 240,000 under labor intensive manufacturing is the volume of units for each method to equal sales of $2,880,000, the point at which the annual unit sales volume would be indifferent. Conclusion Evaluating the costs of manufacturing help management to make crucial decisions about methods of manufacturing that will result in profit for the business. Evaluating the capital intensive manufacturing method versus the labor intensive method provides the values necessary to make business decisions. The circumstances in which the Martinez Company would employ a capital intensive manufacturing method for the new product, based on the numbers provided in the scenario, would be if the contribution margin and per unit cost were cheaper than the labor intensive values. In this scenario, the labor intensive values offer a smaller break-even point value for units and dollars than the capital intensive method of manufacturing. How to cite Decision Making Across the Organization, Papers
Decision Making Across the Organization Free Essays
The Martinez Company has decided to introduce a new product and would like to evaluate the costs of manufacturing through capital intensive and labor intensive manufacturing methods to determine which of the two methods to employ. The values to be used in the evaluation for capital intensive manufacturing are direct materials at $5 per unit, direct labor at $6 per unit, a variable overhead of $3 per unit, and fixed manufacturing costs of $2,508,000. The values for material, labor, and overhead are summed to find the total variable cost of $14. We will write a custom essay sample on Decision Making Across the Organization or any similar topic only for you Order Now The labor intensive values are direct materials at $5.50 per unit, direct labor at $8 per unit, a variable overhead of $4.50 per unit, and fixed manufacturing costs of $1,538,000. The research department of Martinez recommended an introductory price unit sales price of $30. Incremental selling expenses are estimated to be $502,000 annually plus $2 for each unit sold regardless of the method used to manufacture. Capital Intensive To calculate capital intensive estimated break-even point in annual unit sales of the new product the contribution margin per unit and contribution margin per ratio are necessary. The equation for contribution margin per unit is Selling Price + Variable Cost, or $30 + $14, for a contribution margin per unit price of $16. The equation for contribution margin ration is Contribution Margin per Unit / Selling Price, or $16/$30, for a contribution margin ratio of 53%. The break-even point in units is calculated by dividing the fixed costs by the contribution margin per unit value, $2,508,000 / $16 = 156750 units as the break-even point. The fixed costs divided by the contribution margin ratio, $2,508,000 / 53% = $4,702,500 break-even point in dollars. Labor Intensive To calculate capital intensive estimated break-even point in annual unit sales of the new product the contribution margin per unit and contributionà margin per ratio are necessary. The equation for contribution margin per unit is Selling Price + Variable Cost, or $30 + $18, for a contribution margin per unit price of $12. The equation for contribution margin ratio is Contribution Margin per Unit / Selling Price, or $12/$30, for a contribution margin ratio of 40%. The break-even point in units is calculated by dividing the fixed costs by the contribution margin per unit value, $1,538,000 / $12 = 128,167 units as the break-even point. The fixed costs divided by the contribution margin ratio, $1,538,000 / 40% = $3,845,000 break-even point in dollars. Unit Sales Volume of Indifference The volume of unit sales at which the Martinez Company would be indifferent between the two manufacturing methods is calculated as Sales = Variable Costs + Fixed Costs + Net Income. The value for sales is equivalent to the sales price, $30, multiplied by the number of units sold. Variable costs of $14 for capital intensive and $18 for labor intensive are also multiplied by the number of units sold. Fixed costs were provided at $2,508,000 for capital intensive and $1,538,000 for labor intensive. Net income is assumed to be $0. The equation values for 180,000 units under capital intensive manufacturing and 240,000 under labor intensive manufacturing is the volume of units for each method to equal sales of $2,880,000, the point at which the annual unit sales volume would be indifferent. Conclusion Evaluating the costs of manufacturing help management to make crucial decisions about methods of manufacturing that will result in profit for the business. Evaluating the capital intensive manufacturing method versus the labor intensive method provides the values necessary to make business decisions. The circumstances in which the Martinez Company would employ a capital intensive manufacturing method for the new product, based on the numbers provided in the scenario, would be if the contribution margin and per unit cost were cheaper than the labor intensive values. In this scenario, the labor intensive values offer a smaller break-even point value for units and dollars than the capital intensive method of manufacturing. How to cite Decision Making Across the Organization, Papers Decision Making Across the Organization Free Essays The Martinez Company has decided to introduce a new product and would like to evaluate the costs of manufacturing through capital intensive and labor intensive manufacturing methods to determine which of the two methods to employ. The values to be used in the evaluation for capital intensive manufacturing are direct materials at $5 per unit, direct labor at $6 per unit, a variable overhead of $3 per unit, and fixed manufacturing costs of $2,508,000. The values for material, labor, and overhead are summed to find the total variable cost of $14. We will write a custom essay sample on Decision Making Across the Organization or any similar topic only for you Order Now The labor intensive values are direct materials at $5.50 per unit, direct labor at $8 per unit, a variable overhead of $4. 50 per unit, and fixed manufacturing costs of $1,538,000. The research department of Martinez recommended an introductory price unit sales price of $30. Incremental selling expenses are estimated to be $502,000 annually plus $2 for each unit sold regardless of the method used to manufacture. Capital Intensive To calculate capital intensive estimated break-even point in annual unit sales of the new product the contribution margin per unit and contribution margin per ratio are necessary. The equation for contribution margin per unit is Selling Price + Variable Cost, or $30 + $14, for a contribution margin per unit price of $16. The equation for contribution margin ration is Contribution Margin per Unit / Selling Price, or $16/$30, for a contribution margin ratio of 53%. The break-even point in units is calculated by dividing the fixed costs by the contribution margin per unit value, $2,508,000 / $16 = 156750 units as the break-even point. The fixed costs divided by the contribution margin ratio, $2,508,000 / 53% = $4,702,500 break-even point in dollars. Labor Intensive To calculate capital intensive estimated break-even point in annual unit sales of the new product the contribution margin per unit and contribution margin per ratio are necessary. The equation for contribution margin per unit is Selling Price + Variable Cost, or $30 + $18, for a contribution margin per unit price of $12. The equation for contribution margin ratio is Contribution Margin per Unit / Selling Price, or $12/$30, for a contribution margin ratio of 40%. The break-even point in units is calculated by dividing the fixed costs by the contribution margin per unit value, $1,538,000 / $12 = 128,167 units as the break-even point. The fixed costs divided by the contribution margin ratio, $1,538,000 / 40% = $3,845,000 break-even point in dollars. Unit Sales Volume of Indifference The volume of unit sales at which the Martinez Company would be indifferent between the two manufacturing methods is calculated as Sales = Variable Costs + Fixed Costs + Net Income. The value for sales is equivalent to the sales price, $30, multiplied by the number of units sold. Variable costs of $14 for capital intensive and $18 for labor intensive are also multiplied by the number of units sold. Fixed costs were provided at $2,508,000 for capital intensive and $1,538,000 for labor intensive. Net income is assumed to be $0. The equation values for 180,000 units under capital intensive manufacturing and 240,000 under labor intensive manufacturing is the volume of units for each method to equal sales of $2,880,000, the point at which the annual unit sales volume would be indifferent. Conclusion Evaluating the costs of manufacturing help management to make crucial decisions about methods of manufacturing that will result in profit for the business. Evaluating the capital intensive manufacturing method versus the labor intensive method provides the values necessary to make business decisions. The circumstances in which the Martinez Company would employ a capital intensive manufacturing method for the new product, based on the numbers provided in the scenario, would be if the contribution margin and per unit cost were cheaper than the labor intensive values. In this scenario, the labor intensive values offer a smaller break-even point value for units and dollars than the capital intensive method of manufacturing. How to cite Decision Making Across the Organization, Papers
Tuesday, May 5, 2020
Using the Balanced Scorecard at the United States Postal Service free essay sample
In response to the key issues for discussion question one; letââ¬â¢s first start out by defining what the USPS strategic goal areas of interest are. The ââ¬Å"Voice of the Employee (VOE)â⬠was one of the first strategic areas of focus deemed most important due to the past workplace violence at the post office. The VOE placed the emphasis on providing safety and security in the workplace and improving employee relations. Our stated in our text, ââ¬Å"Researchers have repeatedly demonstrated that when service worker satisfaction is high, customer satisfaction is high, and that when job satisfaction is low, customer satisfaction is low. (Evans Lindsay, 2011) Utilizing the balanced scorecard approach, the USPS gauged the VOE by measuring safety based on the requirements of the Occupational Safety and Health Administration. Employee satisfaction was measured by employee surveys which were conducted annually but could be traced on a monthly basis by each unit. The USPS realized that it must improve employee satisfaction in order to improve its internal processes. We will write a custom essay sample on Using the Balanced Scorecard at the United States Postal Service or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This was accomplished by providing training and growing their employees professionally. The second element of the balanced score card was the ââ¬Å"Voice of the Business (VOB)â⬠which focused on the ââ¬Å"Breakthrough Productivity Initiativeâ⬠. The VOB was separated into two areas which were represented by a measurement in productivity and another in revenue generation. These areas were good indicators of whether internal processes were improving which would have been a direct result of improved employee satisfaction. Lastly, the ââ¬Å"Voice of the Customer (VOC)â⬠was considered. The VOC focused on providing timely and reliable delivery. In order to track this strategy a set of delivery service measurements systems were created. The VOC is a term used to describe the in-depth process of capturing a customers expectations, preferences and aversions. The USPS strategy was alignment of the three strategies which would lead to the voices of the customer and the employee dictating what the voice of the business would be. By achieving customer satisfaction, they could expect the desired financial outcome which in the case of the USPS is to provide sufficient revenue to support their mission of universal delivery service. In response to question two of the key issues for discussion, the USPS could increase its customer satisfaction by reviewing its customer satisfaction at individual Post Offices. I often dread going to the post office as my experience has been one of long lines and poor customer service. As with any other measurement, one should ask the following questions: What is the nature of the business? What do the customers need and want? How do you we get employees committed to the vision? How do you get the organization committed to the employees? These questions are addressed at the organizational level but I do not believe they are addressed at the local office level. It would be beneficial to obtain the answers to these questions and then create a local customer satisfaction survey. Based on these results, you can possibly come up with new processes that would reduce the queue time and improve customer service. You could set up a system that would gauge customer service by whether or not the customer is greeted within a set amount of time when entering the facility. You could also encourage eye contact and a positive attitude by making employees greet customers with a smile. Positive eye contact could be encouraged by making the employees annotate the customerââ¬â¢s eye color. It may also be beneficial to have the delivery man/ women to actually hand deliver say one out of every twenty pieces of mail so as to personalize the service that they are rendering. This personalization will go a long way in improving customer satisfaction. Lastly we will discuss the advantages and disadvantages of the balanced scorecard (BSC) approach. The balanced scorecard approach was developed in order to aide organizations in measuring performance and strategies that are not normally measured in the traditional way that financial assets are measured. A great advantage of the BSC is the ability to measure not only the financial but also the non-financial measures. According to the BMA Group Pty Ltd. , the strategic management system aides in accomplishing critical management processes like (The BMA Group, 2004): â⬠¢Clarify and gain consensus about vision and strategy Communicate strategic objective, performance measures and drivers at all levels â⬠¢Link strategic objective to targets and annual budgets â⬠¢Identify and launch strategic initiatives â⬠¢Enhance periodic systematic strategic reviews â⬠¢Obtain feedback to learn about and improve strategy Another advantage is that it ensures that by taking in the four different aspects, that the senior managements are taking a more balanced view about the performan ce of the organization. It also ensures that the short, medium and long-term views are managed in a perpetual and cohesive manner. It also aligns the top level strategies with those of middle management ensuring that they are clearly connected and appropriately focused. The BSC if properly created will ensure that the organizationââ¬â¢s performance reporting system is focused on the things that will give it the competitive advantage both in the short and long term and by realizing value for its stakeholders. Some disadvantages include the fact that the BSC is not a quick fix and requires a considerable amount of time and effort as well as financial investment to develop it. Each BSC must be custom fit for an organization and cannot be compared ââ¬Å"apples to applesâ⬠against another organization BSC. In order for the BSC approach to work, you will need support from everyone in the organization in order for it to work making strategy everyoneââ¬â¢s job. Bibliography Evans, J. R. , Lindsay, W. M. (2011). Managing for Quality and Performance Excellence. Mason, Ohio: South-Western Cengage Learning. The BMA Group. (2004). Balanced scorecard background and key performance measures. Retrieved October 10, 2004, from The BMA Group Pty Ltd Online: http://www. bma. com. au/4/bsc_background. asp
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