Answer to Question #261140 in Management for Sahba

Question

3."For any system, there is always a question of balance. It may be that some forms of system slack should be increased, while others should be decreased. That is the challenge". This is an argument in the book. What forms of system slack do you think should be increased? Discuss it. (25 points)

Answer 1

Every system is bounded by space and time, influenced by its environment, defined by its structure and purpose, and expressed through its functioning. A system may be more than the sum of its parts if it expresses synergy or emergent behavior.

Changing one part of a system may affect other parts or the whole system. It may be possible to predict these changes in patterns of behavior. For systems that learn and adapt, the growth and the degree of adaptation depend upon how well the system is engaged with its environment. Some systems support other systems, maintaining the other system to prevent failure. 

A management system is a set of policies, processes and procedures used by an organization to ensure that it can fulfill the tasks required to achieve its objectives.[1] These objectives cover many aspects of the organization's operations (including financial success, safe operation, product quality, client relationships, legislative and regulatory conformance and worker management). For instance, an environmental management system enables organizations to improve their environmental performance and an occupational health and safety management system (OHSMS) enables an organization to control its occupational health and safety risks, etc.

Balanced Scorecard Definition - Balanced Scorecard is a performance based metric which companies used for strategic management. It improves the internal functions and external results of the business.

Balanced Scorecard Meaning - Balanced scorecard basically connects dot between the strategic part of the organization and the operational elements. It make sure that mission, vision and core values of the organization are well reflected in the objective, initiatives and measures taken by the employees. It also checks the strategic performance is on the line to strategic focus areas

The strategic management and planning system used by organization is known as balanced scorecard (BSC). The balance scorecard is often used for purpose such as-

To communicate well about what the organization wants to accomplish,To align the daily work of employees with organizational strategy,To prioritize on product, project and services level ,To monitor and measure the progress of organization towards the strategic goals

In order to identify the downfall in the internal function and to improve the performance balance scorecard is used as a performance metrics. It is very useful to provide feedback to the employees about their performance and outcomes. The crucial step of balance scorecard is data collection, the realistic information gathered is further interpreted by executives and managers in the company to provide a guideline for decision making in the future.