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

Investigation of the effect of the balanced scorecard on the performance of the for profit organisations - Dissertation Example

Author : princess32
Download 1

Summary

In this research study, the researcher has indentified the impact of the implementation of the balanced scorecard on the performance of the organisation with the help of case studies of organisations which have successfully used the balanced scorecard…

Extract of sample
Investigation of the effect of the balanced scorecard on the performance of the for profit organisations

The researcher states that it is important to first understand and comprehend the basic concept of balanced scorecard before investigating its impact on the performance of the organisations. The balanced scorecard provides a new and changed approach towards the management of the performance of the organisation. It is important to manage, monitor, and control the organisational performance in order to make sure that the organisation is able to accomplish the objectives, vision, and mission defined by the top management. There have been several research studies in order to understand the implementation of the balanced scorecard in effective and efficient manner. The research study will be beneficial for the business analysts and organisations who are looking for the methods and techniques for successful implementation of the balanced scorecard strategic tool in order to manage the overall performance. The method of balanced scorecard allows the organisation in the process of identifying the issues with the previous strategic management tools being used and provides the organisation with clear definition of the objects and elements which should be measured and monitored. This in turn allows the organisation to accomplish the main financial objectives. The main motivation or encouragement behind the research study is to explore the effectiveness of the balanced scorecard in the process of increasing the overall performance and profits of the organisation. The approach of balanced scorecard has been gaining rapid popularity and is being used by several organisations as a strategic management tool. ...
Download paper

Related Essays

Performance Management: using Balanced Scorecard as a tool to improve performance
lts from Questionnaire Survey 44 4.3 Analysis 45 4.3.1 Interview 45 4.3.2 Questionnaire Survey 47 4.4 Discussion and Implications of Findings 48 CHAPTER 5 50 5.1 Conclusion 50 5.2 Recommendation 52 5.3 Limitations and Future Scope of the Study 53 References 55 Bibliography 62 Appendices 67 Appendix 1 67 Appendix 2 68 Appendix 3 73 CHAPTER 1 1.1 Background Organisational functions are generally controlled and monitored by the top-level management of the company. Their duties involve strategic planning, implementing plans to achieve profit and increase the market share of the company.
59 pages (14809 words)
Managerial Accounting
The balanced scorecard method comprises of four different perspectives like, customer perspectives, financial perspectives, innovation and learning perspective and lastly the internal business process perspective. By the implementation of these perspectives the balance scorecard captures the lagging and the leading indicators which gives a balanced notion over the performance of the organisation. The leading indicators of the organisation measure the development of a new product, timely delivery of the product, satisfaction of the customer, competency of the employee, etc. However, under the…
7 pages (1757 words)
Management Accounting: Performance Evaluation (Balanced Scorecard)
Moreover, the organization uses performance measurement tools to motivate the employees and identify the best performers within the organization as well. Performance measurement tools are not only restricted to these functions, but these tools can be helpful in analyzing where the organization has incurred high costs and to identify areas where productivity can be enhanced so that the profitability of the organization can be increased. Therefore performance measurement tools are beneficial for the organization in increasing their financial performances as well as their operational performances…
10 pages (2510 words)
Balanced Scorecard and Its Application to Not-For-Profit Organisations
These measures form the framework for the implementation of the strategy. BSC obtained its name from the attempt to balance both financial and nonfinancial performance measures. While traditional approaches to strategy focused on the financial aspect of the business the balanced scorecard looks at both the financial and non-financial aspects of the organisation. Finkler (2010, p. 299) indicates that the balance scorecard approach monitors how well the organisation is achieving its goals based on four critical perspectives: financial perspective; customer perspective; internal business…
4 pages (1004 words)
Balanced Scorecard
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. …
10 pages (2510 words)
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 keeping it aligned with the overall strategy of P&G. The Balanced Scorecard includes all the four perspectives of a balanced scorecard namely, the financial, customers, learning and internal business…
10 pages (2510 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)