Leveraging the balanced scorecard – a tool for SME advancement

Learning outcomes Illustrate the typical organizational responsibility of a small, medium industry dealing with precision manufacturing products. Introduce a balanced scorecard (BSC) as a concept about the case in the context. Introduce the parameters specific to small and medium enterprise (SME) that could be considered to be part of the key performance indicators. Understand the advantages and disadvantages of using a BSC in SMEs in emerging economies. Case overview/ synopsis Gopika Rani, the recently hired Executive Assistant along with Sanjana M, the Business Development Manager of SEP India Private Ltd. (SEPI), a small medium enterprise, were finalizing a proposal for the forthcoming “India Small Business Excellence Awards 2020.” The proposal was to be considered by the Board of Directors scheduled to meet next week for approvals. Sanjana apprises Gopika on CRISIL’s policy advisory role and its annual awards scheme for SMEs in India. She also details recent modifications announced by the Government of India that had impacted SEPI and was pertinent for filling the application. Gopika understood that SEPI was well-known for the precision and durability of its component, and was poised for growth. The business catered to global suppliers (Tier-1 companies) of the Indian automotive industry that accounted for over 75% and the balance contributed to exports. SEPI’s unique products such as Starter Motor Ignition or the Fuel Vending pump (Automotive) or the non-automotive products such as arrowheads and bowstrings (sports) or the heart-valves (medical) have all the quality certifications. For new product development, customer feedback played a crucial role at all stages of development from prototype to pilot tests. SEPI’s mission “be our customers’ preferred supplier and business partner” drove their personnel and organizational objectives. Also, SEPI could get multiple benefits and be in a strong market position because of this award recognition. Gopika was, however, unclear about SEPI’s business strategies and use of appropriate performance measurement tools. Gopika desired to address the Board of Directors next week on her idea of applying a BSC as a useful “strategic planning and management tool.” The BSC methodology can be used to monitor the performance of SME firms against strategic goals. It can be successfully implemented in smaller organizations because of their simpler set-ups and tendency to arrive at a consensus quickly. However, implementation of BSC within the Indian micro, small and medium enterprises has been scant. Several studies found that the lack of ownership, resistance to change, a scarcity of training and coordination between the departments and lack of funds were among the challenges. The firms also had to make numerous changes to their strategies as business environments evolved. Gopika was convinced that the tool could blend in all the “four perspectives – customer, financial, internal business and learning and growth” and grow. The tool could demonstrate meeting all the prerequisites, “needs to have an exemplary vision, demonstrate outstanding business acumen, use best practices and create a legacy for the others to follow,” that were prerequisites for receipt of this award. Her next project would be to seek approval for the implementation of BSC, a beneficial and apt tool for SEPI. Do you agree with Gopika Rani that BSC is a suitable tool for SEPI? If yes, why? If no, why? Complexity academic level This case study titled leveraging the BSC – a tool for SME advancement is intended for use in the graduate management program (MBA) in subject electives, namely, entrepreneurship, strategy formulation, human resource management or production management. Supplementary materials Teaching Notes are available for educators only. Subject code CSS 3: Entrepreneurship. Supplementary materials Teaching Notes are available for educators only.

IMPROVING THE EFFICIENCY OF FARM MANAGEMENT THROUGH DESIGNING AND FORECASTING ITS ACTIVITIES

The starting point in building an efficient farm with a strong market position is to ensure its stable and reliable financial position. When forecasting the result or the possible degree of achievement of goals are the likely consequences of decisions made or planned. In this sense, forecasting is a necessary component of planning and management. And the success of planning and, consequently, the management of the enterprise, will be fully determined by the quality of forecast assessments of the consequences of decisions. Theoretical and methodological approaches to improving the system of forecasting and forecasting in farms are of practical interest and are a topical scientific problem in modern conditions. The purpose of the study is to conduct a financial analysis of the farm to implement the project, which will allow it to predict a decrease in the duration of accounts payable and receivables and reduce the depreciation rate of technical means of the farm, which will lead to renewal of fixed assets. The use of design and forecasting measures will help to increase the efficiency of farm management. The level of financial stability of the enterprise is analyzed and its coefficients are determined. In addition, the results of the impact of the proposed project on the partial renewal of material and technical base on the financial and economic performance of the enterprise are calculated. The need to study the problems of design and forecasting is dictated by the fact that in Ukraine there is no optimal relationship between planned and market regulation of farm development, which does not contribute to their effective functioning. Despite the breadth of consideration by domestic and foreign researchers of design and forecasting methods in modern conditions, they are insufficiently developed and in scientific terms there are questions about the effective management of farms through their design and forecasting. It is proved that the implementation of the proposed project will reduce the duration of accounts payable and receivables, and the depreciation rate will decrease due to the renewal of the company's fixed assets, as well as the greatest positive change will be the solvency of the company.

Improving the Management of Storage Stock in the Tire Industry Using the Example of a Selected Company

In a well-organized company, stock levels are precisely planned. In order to optimize inventory, various analyses of inventory usage are carried out in terms of them quantity and status. The work presents research on improving the method of managing inventory in the tire industry using the example of a selected company. The company operates warehouses in which tires for passenger cars and vans are stored. Products stored in warehouses ensure high standards. The company focuses on individuality and has a strong market position. The paper presents the results of the ABC and XYZ analysis that allow grouping tires by demand, value and number. The criteria for choosing the ABC/XYZ method are a simple way of use and low financial outlays, in contrast to such methods as MRP or just in time. Furthermore, calculations of such standards as rotation ratios for individual seasons and optimal inventory were carried out. The rotation indicator allows determine which goods are sold quickly and which goods are selling poorly, and therefore the costs associated with their storage are probably higher than from the sale of profits. As a result of the analysis, improvements were made to the inventory management system. The implementation of the proposed methods and tools for inventory management allowed the company to eliminate unnecessary inventories, reduce storage costs and minimize inventory control.

The Impact of the Structural Characteristics of Poker on Market Evolution and Competitive Dynamics in the Internet Poker Industry in Italy

The aim of this study is to analyze the impact that the specific nature and characteristics of the game of poker have had on the development of the Internet poker industry in Italy and on the competitive strategies of on line gambling operators. It facilitates the overall understanding of the different effects that the legalization of Internet gambling in Italy has had on the evolution of the poker industry, in respect to other gambling sectors. Based of existing literature, the study has shown that two distinctive features define the game of Internet poker. The first is connected to the nature of games of skill that distinguishes poker; the second, instead, is linked to the fact that Internet poker is a ‘player-versus-player game’, i.e. it requires the simultaneous presence at gaming tables by multiple players. In order to analyze the market dynamics of the Internet poker industry, from a methodological viewpoint the study is supported by an empirical investigation that concerned all the ‘on line poker rooms’ in Italy that were remote gambling licenses or sub-licensees in 2018. The results of the empirical analysis have highlighted that the progress of market sales and competitive strategies that have typified the evolution of the on line poker market in Italy seem to be strongly influenced by the specific characteristics of the game of poker. This has led to the affirmation of a distinctive structure of competition in this market, that differs from that of other categories of on line games. The empirical analysis carried out has also made it possible to show that the legalization of on line gambling, that started in 2008, has opened the Italian regulated gambling industry to competition from foreign ‘Internet pure players’, who have acquired a strong market position in the on line poker sector. The results of the research provide interesting indications to policy makers in the field of the regulation of on line gambling and also bring out interesting implications of a managerial nature that help to devise competitive strategies more consistent with the specific characteristics of the game of poker.

HUBUNGAN BALANCED SCORECARD DENGAN KINERJA PERUSAHAAN BESERTA BEBERAPA FAKTOR YANG MEMPENGARUHI

<p><em>The objective of this research is to examine the relation between several factors which influence balance scorecard (e.g. organization Size, Product Life Cycle, Market Position) and balance scorecard. The further investigation is to examine the relation between balance scorecard and performance with organization Size, Product Life Cycle, and Market Position as moderating variable. The research examined 20 manufacturing companies in 2007. The primary data were collected by questionairre, and the number of respondent are 20 monetary manager of manufacturing business consist of organizational size, product life cycle, market position and the usage of four perspective of balanced scorecard. Statistical test is using multiple regression and moderated regression analysis. The empirical result of this research shows that First, only market position which has significant influence to the usage of balanced scorecard. Second, the usage of balanced scorecard does not benefit for large organization to increase Organizational Performance. Third, the usage of balanced scorecard does not benefit for organization in introduction stage to increase Organizational Performance. And Finally, the usage of Balanced scorecard does not benefit for organization with strong market position to increase Organizational Performance</em></p>

The Analysis of SWOT Management and Students’ Interest toward STKIP Muhammadiyah Sungai Penuh

In the Academic Year of 2016-2017, only a few students who enrolled at STKIP Muhammadiyah Sungai Penuh especially on the Physics Education Study Program. This phenomenon was the reason to carry out this research. To overcome this problem, the researchers conducted this qualitative and quantitative research through the use of a questionnaire and validated documents. Samples were selected and taken through random sampling technique. The result of the questionnaire was used to observe the interest of high school students in continuing their education than used as an external factor in conducting SWOT analysis. From the results and discussion, it can be concluded that 1) STKIP Muhammadiyah Sungai Penuh position is in the cell -1 which means it is in a strong market position and highly competitive education industry field. 2) STKIP Muhammadiyah will be more advanced if evaluation and implementation of long term and short term strategies are conducted continuously. 3) Based on the percentage obtained, high school students’ interest in continuing education to college is high, reaching 80%. However, the interest to continue their education to STKIP Muhammadiyah is only 73.1% and the interest in Physics Education Study Program is only 59.1% and 4) students’ interest in continuing education is influenced by several factors such as motivation and aspirations, interest, parents, peers, siblings and school environment.

Challenges and Enablers for Rapid Product Development

This article describes how new product development (NPD) is critical to maintaining a strong market position. However, full-scale NPD may consume too much time and resources when necessary to react quickly to customer needs or emerging business opportunities. Rapid development (RaDe) is a type of incremental product development complementing the organizations' existing NPD process. In RaDe, new sales items are created by redesigning or upgrading existing products inexpensively, and in a timely manner. This article aims at clarifying the challenges and enablers relating to RaDe implementation in four case companies and by the means of reviewing literature. The identified challenges include the difficulty of differentiating between product developments models, the lack of clear definition for RaDe and issues in product data management. The enablers include structuring and managing projects differently compared to NPD, the utilization of existing supply-chain capabilities and the designed products fitting the current business processes to enable rapid product ramp-ups.

Sustainable approach towards the new EU-Sugar Market era

Suiker Unie focuses on a strong market position in Northwest Europe at the lowest possible production costs for sugar. The company tries to achieve this by giving attention to the entire production chain. An important pillar of this mission is sustainability. During the recent years Suiker Unie developed a Masterplan to prepare its factories for the new market situation after 2017. In line with Cosun’s strategy of profitable growth, scaling up production capacity of beet factories was defined as goal of this Masterplan. The ambition of reduction of production costs and sustainability (e.g. carbon-footprint) was translated into the challenging constraint to increase the capacity growth within the given steam supply and the actual odour and noise emissions. Based on a thorough bottleneck study a portfolio of measures for each factory is defined, grouped into debottlenecking, energy saving, optimization and environmental projects.

Opposition surge raises instability risks in Gabon

Subject Political economy outlook for Gabon. Significance Gabon earlier this month issued a 500 million dollar ten-year euro-bond at a 6.95% yield to support the government's economic policies. President Ali Bongo faces growing opposition to his family's nearly 50-year rule ahead of elections scheduled for 2016. He hopes a largely debt-funded stimulus programme will mitigate this, but results may only be felt in the medium term. Impacts The Moroccan king's state visit could lay the foundations for new investment, notably in finance and telecommunications. New military equipment purchases and pay rises for soldiers will reinforce the army's support for Bongo, assisting regime continuity. Planned expansion from French consumer goods firm CFAO will help it retain strong market position across multiple sectors. Logging sacred Kevazingo trees for export to China could spur Sinophobic sentiment.

The consumption experience of Tim Hortons’ coffee fans

Purpose – The purpose of this research is to understand the overall consumer experience, while highlighting the means through which consumers live and take possession of what they consume. Design/methodology/approach – Holt’s typology serves as the theoretical background. Choosing a netnographic framework, we analyze the coffee experiential universe of 41 Canadian consumers of Tim Hortons' coffee by studying their personal stories posted on the company’s website. Findings – Individuals predominantly associate the consumption of coffee with ritual, happiness, joy, travel companion and extended relationship. These categories relate to mystique (ritual); pleasure (happiness and joy); travel (travel companion); and love (family-like relationship). Research limitations/implications – We acknowledge that there is a danger of bias in our data considering that we used the narratives that recorded the highest hits. However, these narratives represent a socially constructed reality which was validated by Tim Hortons’ fans themselves. Practical implications – To maintain a strong market position, it is no longer sufficient to understand the associations linked to the overall experience of a product’s consumption. The company must also have ways of accessing or appropriating the consumer experience. Originality/value – The study shows that it is possible for today’s consumer products to become symbolic representations in the minds of consumers, provided that the consumer has a strong attachment to the brand. It is essential to understand the appropriation practices of consumers’ experiences, as these hold significant theoretical and managerial implications.