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Finance & Accounting
Pages 12 (3012 words)
BALANCED SCORE CARD By Name Course Tutor’s Name Institution Date Balanced Score Card Introduction Various analyses and expert reports show that the Balanced Score Card influences in various ways on the performance of both the financial and non-financial measurements of organizational strategy (Brown, & McDonnell, 1995, p.
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. According to a range of financial management literature, the application of the Balanced Score Card is manifest at the financial level of strategy (Punniyamoorthy, & Murali, 2008; Figge, Hahn, Schaltegger, & Wagner, 2002, p. 269). This is because, financial growth strategies are comparably easier to ascertain as compared to the other levels of strategy as customer growth and satisfaction. The universal characteristic of these strategies involve the active application of specific periods within certain financial goals are measured (Brown & McDonnell, 1995). The levels of success or failure are measured within the specified period in order to obtain the most accurate standards of measurement as spelt out within specific growth objectives and strategies. On this score, it becomes appropriate to consider the fact that time factor remains one of the most important considerations of the rate of growth. ...
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