Question

Apple Inc. currently uses the balanced scorecard as it's contemporary management technique. The balanced scorecard list the following critical success factors for the company:

Increase revenue

Increase shareholder value

Availability of products

Brand loyalty

Extensive research and development

Employee commitment and growth

Innovative activities

1. Select 1 contemporary management technique (listed in the Blocher et al. text "Cost Management: A Strategic Emphasis 7th Ed." ) not currently being implemented in the organization that could aid the organization in achieving its critical success factors (CSFs). Be sure to clearly and concisely explain the following:

The rationale for the contemporary management technique selected: In detail explain why the technique chosen was selected

In-depth analysis of the technique, in which you fully describe the technique, its implementation process, its application by other organizations, its applicability to your organization/segment, and your plan for implementation

Avoid using second or third person (I, You, We, etc.) and support your answers using scholarly sources. Wikipedia, Investopedia should NOT be used.

Answer 1

1) Balanced Scorecard is an accounting report that focuses on mainly 4 things as below

i. Customer satisfaction

ii. Financial performance

iii. Internal business processes

iv. Learning & Innovation

Apple incorporation has effectively implemented all the above things so it has increased revenue, increased shareholder value, brand loyalty and all the mentioned above points in the question.

2) The success of an organization may be measured from its so called critical success factors and in order to for the success of an organization it has to demonstrate one of the three value approaches

i. operational excellence

ii. Customer intimacy

iii. Product leadership

3) When an organization accomplishes the strategy of cost leadership, it limits the profitability of other competitors and their growth in that specific industry and this strategy plays a key role for the other organization's success and influences the decision of theirs (other competitors plans for implementation)

4) The missing technique would be Enterprise Risk Management (ERM) which is a process and so called framework that organization rise to manage the risks that could negatively or positively affect the companies competitiveness and success like for example Strategic risk related to top management decisions about the firms strategy and implementation thereof.