Balanced Scorecard Essay example
Masters
Essay
Finance & Accounting
Pages 10 (2510 words)
Download 0
Balanced Scorecard
Introduction
The Balanced Scorecard was first developed in the early 1990s to solve organization and business measurement problems, although its use has evolved among companies into more important functionalities. …

Introduction

Although organizations measured their performance even before emergence of the balanced scorecard, they did not know how to implement new strategies. The balanced scorecard has evolved in its functionality to embrace translation of company strategies into action.
The balance scorecard seeks to operationalize organizational strategy towards achieve desired outcomes. In this case, the balance scorecard ensures that the organization realizes its vision and mission through mobilization of resources and utilizing them in line with corporate objectives and goals, both short term and long term. Through the balanced scorecard, an organization can assess the current performance situation, as well as any feedback available from previous performance, and updating corporate strategies in such a manner that it effectively eliminates any bottlenecks available. This paper will discuss the adoption of Balanced Scorecard by contemporary organizations, and more specifically, the role of Balanced Scorecard in translating strategies to action as well as its role as a strategic management accounting technique.
Translating Strategy into Action
The Balanced Scorecard helps translate an organizations strategy and vision into a comprehensive set of measures and metrics to performance. ...
Download paper
Not exactly what you need?

Related papers

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…
Balanced Scorecard Methodology
According to Kaplan and Norton, the balanced scorecard cannot be just considered as a measurement but it becomes useful only when applied as a framework for management process (21-23). Performance measures are set in the balanced scorecard anticipating that those would help to meet the financial objectives of the Organization.
BALANCED SCORECARD
It is headquartered at Ohio, United States. The company is engaged in the business of offering consumer goods to its customers in packaged form. The sales and marketing division of P&G group is committed towards providing best services to its customers. This study entails the preparation of a balanced scorecard for the strategies to be implemented in the sales and marketing division of the company…
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…
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…
The Balanced Scorecard
10 Under the financial perspective, the company shall focus on satisfaction for shareholders. The main objectives set in providing shareholder satisfaction include increasing customers, new products and orders for products. The company has set targets in terms of percentage increases which must be attained within a trading year. All the targets provided for various perspectives have annual time…
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…