GMS 401 Chapter Notes - Chapter 2: Balanced Scorecard

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Fatemeh Firouzi

Document Summary

The ability and performance of an organization in the marketplace compared to other organizations that offer similar goods or services. Order qualifiers: purchasing criteria that customers perceive as minimum standards of acceptability to be considered for purchase. Order winners: purchasing criteria that cause the selling organization to be perceived as better than the competition. The importance give to operations characteristics: cost, quality, flexibility and delivery. Strategic planning: the managerial process that determines a strategy for the organization. o balanced scorecard: Internal business processes: to satisfy our shareholders and customers, what business processes must excel at. Learning & growth: to achieve our vision, how will we sustain our ability to change and improve. Customer: to achieve our vision, how should we appear to our customers. Mission: where the organization is going now, its products and markets. Vision: where the organization desires to be in the future. Values: shared beliefs of the organization"s stakeholders. Goals and objectives: provide detail and scope of mission.