Maximizing Performance and Maintaining Results †MyAssignmenthelp

Question: Discuss about the Maximizing Performance and Maintaining Results. Answer: Introduction The World Vision Australia is a non-governmental organization which is based in Melbourne Australia and makes a larger part of the World Vision Partnership which is headed by World Vision International. World Vision Australia is also an ecumenical Christian organization dedicated to the betterment of the world, making the glob sustainable for every individual but majorly focuses on improving childrens lifestyle all over the continent. World vision Australia serves globally, the organization is currently serving in fifty eight nations with their main vision being provision for every child, life in all its fullness for everyone. The main method used by the organization to meet its obligations and missions is transformational development via emergency reliefs, advocacy, policies and community development. The content of this paper however, takes a different perspective where the main concern of the study relates to accounting and management part of the organization. The paper discusses various long term objectives of the organization together with the key stakeholders of World vision Australia. The content of the report further provides in-depth and comprehensive discussion with regards to application of a balanced scoreboard, strategy map and its implication. The content concludes with the analysis of various issues surrounding the implementation of a balanced scoreboard. Objectives and key stakeholders of World Vision Australia World Vision Australia as already mentioned is obligated to make the world a better and a fairer place for children especially the most vulnerable children all over the globe. While the extreme poverty rate is slowly declining all over the globe, majority of the children all over the world still have no access to a better life as they cannot afford the most essential life requirements. These essentials include water which is safe, proper education as well as good health and nutritious diet. The organization has therefore various goals to achieve prior to the year 2021 (Kaplan and Norton 2010). The number one goal of the World Vision Australia is to ensure that the ongoing wellbeing of the twenty million children is achieved by 2021 and the ability of the organization to achieve this is based on decades of experience. According to the management of the organization for the organization to achieve this key objective by the year 2021 they have to focus on the betterment of the whole wor ld. To change the life of a child, the community life must change as well as the life of the families with vulnerable children (Niven 2016). This therefore brings World Vision Australia to other objectives towards making the world a better and a fairer place for the children. Another long term objective or goal of the World Vision Australia is to support local communities in order to comprehensively and effectively change the life of children all over the world. To achieve this long term goal, the organization has partnered with various groups of people and organizations in different locations known as Development Programs. These groups work together with the community by helping the community to define their goals as well as help them drive their development. The third goal of the organization is to create change in all work areas. To achieve better life for the children real change means tackling all the complex and connected causes of poverty such as providing clean water and improving sanitations as well as hygienic practices. In terms of education, the organization is objected to improve access to education around the world (Niven 2016). The organization has also a goal to reducing preventable deaths and improvement of women and childrens health through application of high impact innovations in the health sector and lastly in the World Vision Australia has a goal to improve peoples livelihood so that they can increasingly provide for their children in the future. The key stakeholders in the organization are the vulnerable children World Vision Australia support all over the continent. Children are the major clients of the organization as most of the activities undertaken by the organization are meant to support the children. Another major stakeholder is the local communities especially the poor Development program groups Financiers The board of the organization Employees Emergency agencies Global partnerships Scoreboard perspective suitable for the case Based on the type of operations handled by World Vision Australia as an organization, the best perspective of the scoreboard that can be applied is the client perspective. The customer perspective is all about how the clients of the organization perceive it and the position of the organization in meeting the client desires in order to meet the financial objectives (Niven 2016). The customer perception is always based on the time of performance, the quality of performance and the cost of operations. Objectives Specific measurement New supports programs Level of impact of the programs Responsive service supply Timely delivery To be preferred supply Share of key accounts Client partnerships Number of global partnerships The table above outlines specific measures that majority of the World Vision Australian clients may need. Most of the clients in relation to various studies have similar objectives which have similar specific measures as outlined above. The creation of new programs by the organization is one of the client objectives, this objective is always measured by the percentage of sales but in this case the specific measure of the new programs is the level of the impact to the local community (Niven 2011). Another objective is the responsive service supply which is measured by timely delivery of the services. The third objective is the preferred supply which is measured specifically by the share of the key accounts and finally the last objective is the clients partnerships which is measured by the number of global partnerships. Strategic map indicating the relationship between the objectives Strategies can be articulated in terms of a meaningful strategy map which indicates the relationship between the objectives. The top objectives can be expressed in terms of growth and profitability and the goals can be translated into more concrete terms of progress (Niven 2015). The objectives within the scorecards can be cascaded to make the translation of possible strategies. Analysis of the issues concerning the implementation of the balanced scorecard by the World Vision Australia According to various literatures and studies, implementations of scoreboard comes with various challenges. These problems affect most of the organizations and World Vision Australia is one of the firms facing the scoreboard implementation. One of the main challenges faced by the organization is too much internal focus which is encouraged by scoreboard. This problem occurs as many of principles focus on the internal principles within the internal environment of the organization (Makhijani and Creelman 2011). The organization can avoid this problem through the application of SWOT analysis. Through the application SWOT analysis, the organization can develop a more holistic approach to develop a balanced metric system. Developed metrics should be relevant and clear understandable to everyone. The metric should be depicted with visual indictors which can easily be understood by everyone within the organization. Most of the stakeholders within World Vision Australia may not be able to understand poorly defined metrics and this may be a problem to the implementation of a balanced metrics. In order to overcome this challenge the organization may should develop a sloppy and well defined metrics which is not vulnerable to critics and understandable to all parties (Makhijani and Creelman 2011). The organization being a non-profit making organization is likely to have poor financial reporting system or may overemphasize on the collection of financial metrics at the expense of other simple issues and this may be a challenge to the implementation of the a balanced scoreboard (Pham-Gia 2009). The organization should adopt proper system for automation data collection and subsequent reporting. According to various studies it is evident that most of the organization with a good data collection and reporting system maintain better performance. Conclusion The application of a balanced scorecard by World Vision Australia can increase their success in the future. The organization should come up with data collection and reporting system which will ensure efficient implementation of a well balance metrics. The good performance of any organization with reference to the above discussion may be as a result of a balanced scorecard which indicates the organizational performance as seen in the case above. It therefore advisable for organizations to adopt the use of a scorecard with a well-developed financial metrics. References Kaplan, R. S., and Norton, D. P. 2010. The balanced scorecard: translating strategy into action. Boston, mass, Harvard business school press Makhijani, N., and Creelman, J. 2011. Creating a balanced scorecard for a financial services organization. Singapore, wiley. Niven, P. R. 2011. Balanced scorecard step-by-step for government and nonprofit agencies. Hoboken, wiley. Niven, P. R. 2015. Balanced scorecard diagnostics: maintaining maximum performance. Hoboken N.J., J. Wiley. Niven, R. R. 2016. Balanced scorecard step-by-step maximizing performance and maintaining results. Hoboken, wiley. Pham-Gia, K. 2009. Balanced scorecard - solving all problems of traditional accounting systems?