ARTICLE DESCRIPTION: Balanced Scorecard - it reminds me of Golf, I don't know why but it just does. I suppose really it's to do with focus, and getting the best out of all processes to meet today's business challenges. According to a well-known analyst the global market is just beginning its life cycle, and in the United Kingdom and many parts of Western Europe, manufacturing firms have to learn new strategies in order to survive.

MORE INFO: Editorial : Editor’s Letter Balanced Scorecard - it reminds me of Golf, I don't know why but it just does. I suppose really it's to do with focus, and getting the best out of all processes to meet today's business challenges. According to a well-known analyst the global market is just beginning its life cycle, and in the United Kingdom and many parts of Western Europe, manufacturing firms have to learn new strategies in order to survive. The strength of the pound, has weakened demand due to the soft global economy, rising oil prices and instability in the Middle East; along with the rising costs of labour, property and transportation and these have left many companies in the sector struggling to maintain market demand and break even. But despite this, many firms are thriving precisely because they have recognised the adversities of the current economy and changed their approach in order to accommodate them. Many have looked to rival manufacturing centres in the Far East and America and learned from the new techniques being practised there. Read our articles in Control to find out more. Malcolm Granger, FIOM

PUBLISHER: Institute of Operations Management

Page number: 4 Word count: 200

Vol 31 - No 06 - September 2005

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