INFORMATION MANAGEMENT What is information management? What are the benefits of information management? What is the difference between data, information and knowledge? What is an information strategy? PROJECT MANAGEMENT What is the purpose of project management?
Authors Pearce and Robinson (2009) suggest, a balanced scorecard “Is a set of measures that are directly linked to the company’s strategy,” “Directs a company to link its own long-term strategy with tangible goals and actions,” and “Provides a framework to translate a strategy into operational terms” (p. 202). A balanced scorecard is comprised of four perceptions: financial, customer, internal business process, and learning and growth (Pearce & Robinson, 2009). Utilizing Kaplan and Norton’s development of the balance scorecard AB Cleaners (ABC) evaluated its strategies relative to their mission and vision. The preceding matrix echoes ABC’s measurements, its targets, and supporting initiatives for each of the four perspectives associated with the
Activity 1 Describe the purpose of the operational plan and describe its relationship to the strategic plan. An operational plan sets specific projects or activities (consistent with the strategic plan) that will be conducted, and the timetable and resources needed for completing those projects or activities is a detailed document that outlines how the organisations strategic goals are able to be achieved. They are known as action plans or tactical plans. Whilst a Strategic plan is the process of comprehensive, integrative program planning that considers, at a minimum, the future of current decisions, overall policy, organisational development, and links to operational plans. An operational plan will include details of: •
What influence does adhering to Crosby’s unique theory have on production? * * What are the distinguishing elements of a process-driven quality requirement? What is unique about a process-driven quality requirement? What are some of the unique elements of implementing customer-driven quality requirements as opposed to process-driven quality requirements? * What are the distinguishing elements of a customer-driven quality requirement?
As with all attempts at categorization, the definitions can be somewhat arbitrary; however a typical split might be decisions related to Mission, Policy, Strategy, Tactics and Operations. • Mission The mission is a vision, a statement of aim or purpose, for the business. It is the raison d'être, the reason the business is the way it is. Some typical questions one might ask at this level are: "Who are we?" "Why are we here?"