Introduction Balance Scorecard and KPI helps in decision making within oil and gas industry so that continuous improvement and innovation can be attained. Balance Scorecard is the measure through which the performance is measured which assist the employees to focus upon quality and aids in improving business performance (Wu, 2012). Further, KPI's are another performance management measure which has been adopted by the top management to make effective decisions so that productivity of the firm can be improved. Both these methods aid in developing innovative and learning perspectives so that competitive success can be attained. Effects of Balance Scorecard and KPI's on decision making Following are the effects of balance scorecard and KPI's on the final decision of top management such as: Get Expert Help We can help in getting your scores back on track. Get expert help from our writers. Dissertation Help Media Dissertation Law Dissertation Writing Financial Perspective It is essential for the top management to make effective decisions regarding finance so that balance scorecard and KPI's can measure the performance of individual to attain success within oil and gas sector (Sainaghi, Phillips and Corti, 2013). Customer Perspectives Both these methods helps the top management to make decision regarding identifying customers needs and providing them with innovative products so that satisfaction can be attained. Thus, introducing new methods within oil and gas sector helps in evaluating the customer enhancement. Learning And Growth Perspective Effect of Balance Scorecard and KPI on the final decision aids the management of oil and gas sector to obtain effective learning and growth perspective so that best results can be attained (Grigoroudis, Orfanoudaki and Zopounidis, 2012). Thus, it facilitates the firm to create value and innovation to achieve maturity stage within the product life cycle. Internal Business Processes Perspectives It affects the top management to improve and identify the measures so that customers can be satisfied. Such methods assist the internal processes and help the company of oil and gas industry to yield and develop new product innovation to enhance the performance (Northcott and Smith, 2011). Marketing Effect It is essential for the organization to make decision regarding marketing and promotional strategies so that oil and gas industry can attain the desired success. Improving marketing opportunity aids in improving performance of the company in market. Human Resource Management HRM effect also plays a crucial role within oil and gas sector to measure the productivity of the workers. Thus, it is essential for HR manager to effectively measure workers performance and enhance their skills towards organizational goals (Niven, 2011). Improving Implementation Of Strategies And Objectives Through implementing balance scorecard strategy, it assists in significantly implementing the strategies and tactics so that proper monitoring can be done over business success. With regard to this, it aids in making effective decision which results in obtaining high performance (Elyna Myeda, Nizam Kamaruzzaman and Pitt, 2011). Management Effect Balance Scorecard and KPI affects the business performance and thus aids value to the firm to bring improvement in achieving the desired success. It is essential for oil and gas sector to enhance the operations of the firm towards business goals. Team Work Balance Scorecard and KPI helps in developing effective team work and enhance the overall team performance. Also, such objectives facilitate employees in working as a team and which enhances the sales and profitability of the organization. Strategic Goals It assesses that business is required to develop effective strategic goals as it affects the functioning of enterprise and thus employ skilled candidates so that they can efficiently work towards business goals (Soderberg and et.al., 2011). Causal Delays It can be assessed that if such factors are not carried out effectively by the firm it will impact the performance of individuals and carries out causal delays that affects the working culture of firm. Long Term Profit Generation Managers of oil and gas industry assesses that the organization is required to execute the balance scorecard and KPI's which results in attaining long term profits. Thus, it will affect the business if profit maximization situation is not attained in an effective way (Kurien and Qureshi, 2012). Find Exactly What you Require Take a look at our wide variety of dissertations and find the one that you need. Online Assignment Help MBA Dissertation Order Now UPTO50% Avail The Benefit Today! To View this & another 50000+ free Enter Email Submit
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