StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Balanced Scorecard Strategy For Dummies - Assignment Example

Cite this document
Summary
The paper 'Balanced Scorecard Strategy For Dummies' focuses on one of the pitfalls which are the use of inexperienced personnel or team to conduct the performance measurement process that will not know exactly what to measure and hence jeopardize the whole process…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.4% of users find it useful
Balanced Scorecard Strategy For Dummies
Read Text Preview

Extract of sample "Balanced Scorecard Strategy For Dummies"

How do you determine what is important to measure in an organization?There are several determinants of what to measure in an organization. One of the determinants is the goals and objectives set for the organization. The aim of the organization from its inception lies in the goals and objectives. In order to, therefore, determine if the aim is being fulfilled, measurement of the performance against the set goals and objectives is necessary (Hannabarger, Buchman and Economy, 209).Another determinant is the strength and weaknesses of the organization.

These are important in determining measurement because they reflect the true nature and state (financial or otherwise) and measurement of these will point the organization to its next direction and steps. Additionally, the threats being faced by the organization are also determinants of measurement if the organization is succeeding in the future.Finally, the specified mission and vision of the organization also act as effective determinants of performance measurement. This is because they involve the future of the organization and its success or failure.

The mission and vision are what give the organization a brand name and distinguishes it from its competitors and it is, therefore, necessary to measure whether that is still the truth (Hannabarger, Buchman and Economy, 218).

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Balanced Scorecard Strategy For Dummies Assignment - 7, n.d.)
Balanced Scorecard Strategy For Dummies Assignment - 7. Retrieved from https://studentshare.org/health-sciences-medicine/1600054-health-administarion
(Balanced Scorecard Strategy For Dummies Assignment - 7)
Balanced Scorecard Strategy For Dummies Assignment - 7. https://studentshare.org/health-sciences-medicine/1600054-health-administarion.
“Balanced Scorecard Strategy For Dummies Assignment - 7”, n.d. https://studentshare.org/health-sciences-medicine/1600054-health-administarion.
  • Cited: 0 times

CHECK THESE SAMPLES OF Balanced Scorecard Strategy For Dummies

Balanced Scorecard as a Performance Management Tool

Individual End-of-Module Report Executive Summary This study is based on balanced scorecard and its utilisation as a performance management tool for Thornton Chocolate Company.... The balanced scorecard discussed in this study also considers the key performance indicators of the company.... In this scenario development of balanced scorecard and strategic map for guidance become necessary for the company.... A comprehensive discussion on balanced scorecard and the key performance indicators, targets, and objectives of the company are also ascertained to develop a strategic map for the company....
8 Pages (2000 words) Essay

Quality in Practice: Using the Balanced Scorecard at USPS

… A balanced scorecard is a strategic management and planning that is extensively applied in industries, government, non-profit organization and businesses (Kaplan & Norton, 2001).... USPS has been operating under a balanced scorecard initiative that is divided into three major areas of execution that are known as management cycles (Kaplan & Norton, 2001).... This means that the three areas of focus that are addressed by the USPS balanced scorecard have a cascading effect from one area to another....
3 Pages (750 words) Essay

The Balanced Scorecard

hellip; Management literature fulfils this need by provides various systematically designed strategic tools to be employed by the organization that facilitates in effective execution and implementation of the strategy.... Every strategy of SASA is directed by leveraging expertise and benefits to and from these four pillars of SASA....
9 Pages (2250 words) Essay

Balance Scorecard Issues

The balanced scorecard is a document that integrates the vision, mission and objectives of the organisation and provides a dashboard view of the status of the many initiatives being taken towards organisational goals.... The measures are balanced between 10).... This method links organisational capability with its activities and results....
4 Pages (1000 words) Essay

Indicators to Be Employed By Grant Donor

A manageable balanced scorecard that is used to manage a business has got three key areas of general few.... hellip; The author states that for the group to implement its strategic plan effectively and comprehensively, a balanced scorecard is an inevitable tool that must be put to use.... balanced scorecard touches on all the four aspects of group performance: learning and growth, internal processes, customers as well as finance.... For this case of study, I can bring out the best framework of a balanced scorecard as below....
11 Pages (2750 words) Assignment

Strategic Scorecard for Clairol Company

Moreover, it has an excellent reputation with a high level of customer referrals within the firm. The company enjoys a high financial strength that… This has also given it a chance to increase its market share and produce more products so that it can be capable of meeting the needs of different clients within the market. It also has According to Doyle and Bridgewater (2010), the main focus on the confectionery gives them an upper hand in understanding the consumers in the various segments better....
6 Pages (1500 words) Assignment

Balanced Scorecard for Charitable Organization

The details provide a balanced scorecard that the organization relies on to lead its operations.... The balanced scorecard also aids in the consideration of the Metric-Driven Incentives that consider focus more on the financial aspects of an organization that range from increasing profits to reducing operational costs.... Relating to the above, a balanced scorecard relates to a business document that is in the strategic planning and management system for the alignment of business operations with relation to the vision statements and the mission that the...
7 Pages (1750 words) Essay

Balance scorecard

The concept was further expanded to include the communicating, describing and implementation of the strategy.... Balance scorecard (BSC) is the strategic planning tool that is exclusively used by governments,' nonprofit organizations and businesses globally in the alignment of business operations with the strategic and vision of the company, coordination of its external and internal… The nursery volunteers can employ the BCS which constitutes of non financial and financial measures in order to promote their long term profitability, survival and reduction of poverty in the Jack (2009) explains that in the USA currently, the horticulture farming achieves a gross total of $98....
8 Pages (2000 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us