BUS 254 Chapter Notes - Chapter 10: Balanced Scorecard, Kaizen, Total Quality Management

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 254
• Professor: Masood Kamlani

Document Summary

Chapter 10 readings: the balanced scorecard (page 434) The balanced scorecard: a model of business performance evaluation that balances measures of financial performance, internal operations, learning and growth, and customer satisfaction. By focusing on measures of performance now in these 3 key perspectives, a company can achieve its financial goals in the future. Lead and lag measures: the key to the balances scorecard (page 438) Lead indicators: measures of nonfinciancial and financial outcomes that guide management in making current decisions that will result in desirable results in the future. Lag indicators: measures of final outcomes of earlier management decisions. Linking the balanced scorecard to organizational strategy (page 439: operational performance measures in today"s manufacturing environment (page. Bottleneck operation: one that limits the production capacity of the entire facility. Manufacturing cycle time: the total amount of production time required per unit. Velocity: the number of units produced in a given time period.