Organizational and Collective Intelligence

Question: Discuss about the Organizational and Collective Intelligence. Answer: Introduction: As per the article by Nrreklit and Mitchell (2014), balance scorecard is a management system that is utilized extensively by the government, business and non-profit organizations to align all the activities of the businesses to the strategy, vision and mission of the organization. Thus, it will provide assistance to the Prime systems to supervise all the performance level in an effective way. From the study, it can be assessed that Prime Systems is focusing on to provide effective services to the Mercedes, Workhorse and Traveller for establishing the business in an effective way. The objective of the organization is to penetrate in the large geographical market to gain competitive advantage in the market. Now, for the effective fulfilment of the performance objective, Prime systems have focused on the specific areas including Chicago, Shanghai, Sao Paulo and Paris. As per the article by Ratnasingam (2014), balance scorecard has focused on the financial performance assessment that can have impact on the business perspective. Now, the study has highlighted setup cost in Paris is comparatively high $380,000 than Chicago, Shanghai and Sao Paulo that eventually will create massive impact on the financial performance level of the organization. Prime Systems have also tried to evaluate needs of the customers regarding the Mercedes, Traveller and Workhorse brand so that it can actually create maximum impact on the financial condition of the organization. As per the article by Boscia and McAfee (2014), balance scorecard is a key tool for the effective evaluation of the organizational capacity in an appropriate way. It also provides knowledge to the organizations regarding the satisfaction level of the stakeholders or customers. For that reason, Prime Systems have identified top eight customer needs and wants regarding all three products so that it can create positive impact on the business perspectives. It has also tried to segment the products based on the applications so that all the needs of the customers can be fulfilled in an effective manner. It has highlighted applications like word processing, data management, engineering design, budgeting and bookkeeping that can have impact on the overall effectiveness of the businesses. Prime Systems also have tried to assess the amount of price consumers are willing to pay for availing the services. It has been assessed that as the customers are willing to pay more for Mercedes, its demand is higher than other two models. In order to fulfil the business objectives, Prime Systems have also tried to evaluate the potential 12 months demand for all the products in the selected geographical regions. The study has highlighted the fact that demand for Workhorse is expected to be higher than other two products in the next 12 months, as all most all the region have expressed higher desire for the product. Conversely, Mercedes and Traveller are not expected to create same kind of desire in the market. Still, Prime Systems have prioritized Mercedes at the first place so that it can influence the overall demand of the product. Thus, Prime Systems has able to work according to its mission statement that states, Provide best computers to high tech users. Reflection of the decisions: From the above discussion, I believe Prime Systems have tried to cover all possible aspects that can create difficulties regarding the effective fulfilment of business objectives. I feel the effective utilization of balance scorecard technique has helped Prime Systems to direct all the business related decisions towards a particular goals and objectives. It has also helped to evaluate several financial metrics for the Prime Systems in an effective way. For instance, I believe it has helped Prime Systems analyze the cost associated with start-ups in different geographical conditions. I have identified that Prime Systems also have tried to evaluate expected quarterly lease cost and costs associated with sales offices in such a way so that it can able to create strategies for the effective fulfilment of business objectives. Prime Systems also have tried to increase fixed capacity of the organizations in order to fulfil the demand of the potential customers in an effective manner. On the other hand, I have identified the fact that Prime Systems have made a conscious effort regarding its appearance to its potential customers. For that reason, I think that Prime Systems have segregated the need of the customers in two different way including general customer needs and web customer needs. In case of general customer needs, I have identified that 10 attributes have been selected by the organization that can have impact on the overall performance level. On the other hand, 7 attributes have selected regarding the web customers nee and wants. I have identified the fact that customer needs varies from one product to another which organization have to keep in mind for fulfilling the business objectives. Now, the utilization of balance scorecard has helped to evaluate the initiatives taken by Prime Systems regarding the needs of customer can actually have created desired level of impact or not. I believe the geographical area wise segregation is extremely crucial for th e Prime Systems, as it can play a major role regarding the overall performance level. Now, balance scorecard has highlighted the fact that internal business process or stakeholder management is significant for achieving sustainable growth in the market. Therefore, I believe that it is important for Prime Systems to focus on all the internal and external stakeholders in an effective manner. However, the study has highlighted the fact that Prime Systems have only provide prime focus on the customers while other stakeholders like investors and suppliers are not taken into consideration. Therefore, I believe that it can actually create challenges for the effective fulfilment of business objectives. Specifically, as the analysis financial factors highlighted the fact that costs associated with the operation is expected to increase in next few months, I believe investors will have to play a significant role for fulfilling all the business objectives in an efficient way. Thus, I believe that Prime Systems will have to learn several strategies continuously for achieving all t he business objectives in an appropriate manner. As per the statement of Singh and Sohani (2014), it can be assessed that the prime objective of balance scorecard is to enhance the present level of internal business process. Now, financial position plays a critical role in assessing the internal processes of a business organization. The balance scorecard has highlighted the fact that proper evaluation of financial perspectives can actually help Prime Systems to implement effective strategies, which eventually will create positive impact on the satisfaction level of the customers. Furthermore, balance scorecard also can play a crucial role in evaluating whether Prime Systems have able to fulfil its business objectives or not. Figure 1: Balance scorecard (Source: Garengo and Biazzo 2012) As per the article by Grigoroudis, Orfanoudaki and Zopounidis (2012) effective evaluation of expected costs for setting up and running a business is crucial for estimating the expected level of revenue. Therefore, Prime Systems have made an in-depth analysis regarding the fixed cost and variable costs of setting up businesses in different geographical regions. Therefore, it has helped Prime Systems to have an idea regarding the amount of profit level organization will able to achieve in next few months. As a result, it eventually will help to develop effective business strategies for fulfilling all the business objectives in an appropriate manner. On the other hand, internal process management of balance scorecard can help organizations to identify the prime areas where changes need to be done for creating desired impact on the market. Thus, it actually helps organizations to invest more on the innovative activities in order to grab the attention of the customers in an appropriate ma nner. Furthermore, internal business process management will also help Prime Systems to handle all its resources in such a way so that it can able to create maximum impact on the business processes. On the other hand, Hoque (2014) have mentioned that learning and growth factor of balance scorecard can help to achieve the vision of organizational entity to conduct effective change in the operational procedure. It will also provide better alternatives for Prime Systems for fulfilling all the mission or objectives in an appropriate manner. Moreover, balance scorecard has also highlighted the fact that customers play a significant role in fulfilling the desired objectives of the organizations. Therefore, it is necessary for the organizations to evaluate the needs and wants of the customers so that all the objectives related to business processes can be fulfilled in an appropriate way (Keyes 2016). Furthermore, the study has also highlighted the fact that organizations need to evaluate the needs and wants of the customers both product and geographical area wise for assessing the clear picture of the market. In addition, the assessment of Prime Systems related to balance scorecard has highlighted the fact that organizations need to prioritize all the needs and wants of the customers in an effective way. Otherwise, the overall performance level of the organization might not able to create desired impact on the business processes. References: Boscia, M.W. and McAfee, R.B., 2014. Using the balance scorecard approach: A group exercise.Developments in Business Simulation and Experiential Learning,35. Garengo, P. and Biazzo, S., 2012. Unveiling strategy in SMEs through balanced scorecard implementation: A circular methodology. Total Quality Management Business Excellence, 23(1), pp.79-102. Grigoroudis, E., Orfanoudaki, E. and Zopounidis, C., 2012. Strategic performance measurement in a healthcare organisation: A multiple criteria approach based on balanced scorecard. Omega, 40(1), pp.104-119. Hoque, Z., 2014. 20 years of studies on the balanced scorecard: Trends, accomplishments, gaps and opportunities for future research. The British accounting review, 46(1), pp.33-59. Keyes, J., 2016. Implementing the IT balanced scorecard: Aligning IT with corporate strategy. CRC Press. Nrreklit, H. and Mitchell, F., 2014. Contemporary issues on the balance scorecard.Journal of Accounting Organizational Change. Ratnasingam, P., 2014. The Evolution of Balance Scorecard and its Impact on Web Services Quality.International Journal of Organizational and Collective Intelligence (IJOCI),4(1), pp.45-56. Singh, R.J. and Sohani, N., 2014. Enhancing Organizational Performance through Balance Scorecard with Strategic Management Activities.International Journal of Core Engineering Management (IJCEM),1(1), pp.19-23.