Got a tricky question? Receive an answer from students like you! Try us!

Implementation of Balance Score Card (BSC) - Essay Example

Author : cooper82
Download 1

Summary

Balance Score Card (BSC) is a framework for measuring performance on strategic level and accounts both financial and non financial measures (Banker, Chang, and Pizzini. 2011). BSC, since introduced by Kaplan and Norton in the early 1990s, has been adopted by large number of organizations…

Extract of sample
Implementation of Balance Score Card (BSC)

Balance Score Card (BSC) is a framework for measuring performance on strategic level and accounts both financial and non financial measures (Banker, Chang, and Pizzini. 2011). BSC, since introduced by Kaplan and Norton in the early 1990s, has been adopted by large number of organizations. It is called BSC as it attempts to balance between short and long term goals while maintaining balance between financial and non financial variable (Kalpan, 2010). Proponents of BSC claim that it has many beneficial features that makes it preferred choice; such as connecting vision with strategy and activities down the hierarchy; cause and effect relationship of performance drivers with outcome etc (Chavan, 2009). Other feature that makes it most advocated is the fact of providing performance measurement and goal oriented guidance by combining variables or perspectives (2GC Limited, 2011). With agreement on benefits BSC offers to organization, fact remains that due benefit from BSC can only be availed based on appropriate and well thought implementation and there has been considerable debate on the implementation of BSC. This paper is also aimed to investigate and analyze success or failure of BSC that can be attributed to the appropriate implementation. Followed by introduction is the literature review of past academic studies done in the selected domain. Research methodology contains information related to method adopted to address the selected question. Analysis section provides analysis of the case studies selected to address the aim of this research. ...
Download paper

Related Essays

The Balanced Scorecard (BSC) method of Lloyds TSB Bank
The Balanced Scorecard (BSC) method of Lloyds TSB Bank …
11 pages (2761 words)
Balanced Score Card
According to various studies, the Balanced Score Card system affects strategy at the levels of finance, customer, internal, and growth. One advantage of this strategy is that it relies significantly on measurable outcomes that weigh against specific goals as spelt out in the organization’s specific mission and vision. …
14 pages (3514 words)
Balanced Scorecard Dissertation
If you can't measure something, you can't understand it. If you can't understand it, you can't control it. If you can't control it, you can't improve it” by H. James Harrington is justified in every aspects of a business environment (USACE, 2005). Measuring performance in an organizational perspective is equally important as its business operations. An organization running its operations without having performance measurement tools can be like a CEO functioning without formulating a strategic plan or an aeroplane flying without its compass.
28 pages (7028 words)
Balanced Scorecard
Essentially, the balanced scorecard is concerned with analysis of four areas including customers, finance, business processes and learning and growth. Managers are usually engaged in collection of quantitative data and then analyzing it with the aim of making appropriate and long-term decisions courtesy of balanced scorecard technique. This paper will analyze five different papers, which have examined balanced scorecard through case studies, primary data collection and as well as secondary research. The papers have good insight on the applicability, advantages as well as the challenges of…
8 pages (2008 words)
BALANCE SCORE AND STRATGEY MAP ANALYSIS OF CHEVRON
The balanced score card is used here as a strategic management tool and strategic control system. The balance score card is supplemented with a strategy map. The strategy map use a more direct approach to depict the cause and effect relationship between the various objectives across finance, customer, internal process and learning and growth. The research report also involves a detailed explanation of the link between each type of objective. Apart from that the strategies are also linked with the mission and objectives of Chevron. Based on the observations obtained from the balanced score card…
10 pages (2510 words)
finance coventry
The balance scorecard and the strategy map formulated can serve as an effective tool for the company to predict its effective future plan. This study contains suitable recommendations based on the key parameters used for the purpose of analysis which can serve as benchmark for the company to improve its financial and non-financial performances. Table of Contents Table of Contents 3 1. Introduction 4 2. Vision and Strategy 4 3. Balanced Scorecard for Marks and Spencer PLC 5 3.1. Financial perspective 6 3.2. Customer perspective 6 3.3. Internal business perspective 7 3.4. Learning and innovation…
10 pages (2510 words)
The Balanced Scorecard
This direction is centrally provided in four dimensions which include financial, customer, internal process and learning and growth perspectives. SASA is an International Holdings Limited retailing group providing cosmetics. It is incorporated in Hong Kong, now enjoys the position of leading cosmetic provider from Asia. The success of SASA like any other business is the reflection of the effective strategic management. For continuing the practice of effective strategic management, the underlying report develops the Balance Score Card for the SASA Company for the further organized and effective…
9 pages (2259 words)