Implementation of Balance Score Card (BSC) - Essay Example

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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. ...Show more

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…
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