Lets get started with our 2nd Blog on Management. BALANCED SCORECARD ORIGIN OF BALANCE SCORE CARD In 1992, Drs. David P. Norton and Robert S. Kaplan started a working group to examine the challenge of reporting only on financial measures. In for-profit organizations, financial measures provided a lagging report (i.e. they told you what happened last month, quarter, or year), but they were not able to look forward. Norton and Kaplan wanted to specifically look at what measures that look forward in time and act as leading indicators might look like and how that could affect an organization’s strategy. What is Balanced Score Card? The Balanced Scorecard (BSC) is a business framework used for tracking and managing an organization’s strategy . The term balanced scorecard (BSC) refers to a Strategic Management performance metrics us ed to identify and improve various internal business functions and their resulting external outcomes. Used to measure and provide feedback to organizati
Hello Everyone, Lets a have a detailed deep study on competency mapping. What is competency mapping? Firstly, Give answer to this question by your own. Then compare your present knowledge & after completion of this detail study. If you find it helpful then comment down with a tumbs up. Lets Get started, Lets discuss it with a diagram, Introduction to Competency Competency mapping is a way of assessing the strengths and weaknesses of a worker or organization . It is about identifying a person’s job skills and strengths in areas like teamwork, leadership and decision making. Thus, it is about identifying a person’s job skills and strengths in the areas like teamwork, leadership and decision-making. Competency Mapping is a process to identify key competencies for an organization and/or a job and incorporating those competencies throughout the various processes (i.e. job evaluation, training, recruitment) of the organization. A competency is defined as a behavior (i.e. com