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balanced scorecard evaluation - Essay Example

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Ph.D.
Essay
Finance & Accounting
Pages 8 (2008 words)

Summary

Balanced Scorecard Evaluation In order to experience continued growth and improvement, it is very critical that managers of organizations understand their companies from their financial and non-financial perspectives. Kaplan and Norton (1996) state that “if u can’t measure it, u can’t manage it.” This means that managers of organizations should be in a position to keep track of the way the staff execute activities that are within their control…

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balanced scorecard evaluation

It should be able to in a good position to predict the future performance of the organization, and/or control and manage the organization’s strategic plan. A balanced scorecard is one of best management styles that capture this information in details. This paper gives an analysis of the purposes for non-financial performance measures. It also analyses the current performance measure adopted in Atlantic Tele-Network, Inc (ATN), the extend to which their performance measure captures the Kaplan and Norton’s balanced scorecard and its present strength and weaknesses. Purposes for non-financial performance measure Kaplan and Norton (1996) state that by analyzing the non-financial perspectives of an organization, managers are in a position to translate the strategy of an organization into actionable objectives. It also enables them to get an insight of how the strategic plan of the organization is being executed. According to Kaplan and Norton (1992), a balanced scorecard (BSC) maps the strategic objectives of an organization into performance metrics. This is done in four perspectives namely learning and growth, customers, financial and internal processes. ...
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