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 having performance measurement tools can be like a CEO functioning without formulating a strategic plan or an aeroplane flying without its compass. Therefore it can be portrayed that the primary intentions behind measuring performance is to get an idea of how the organization is performing and looking after the possibilities of further development. Performance management enables organizations to measure, plan and control activities in accordance with the predefined strategies. In simple words it facilitates organizations to achieve their desired goals (Johnson, 2007, p.1-2). Some of the major performance measurement tools that are being used in current business scenario include Balanced Scorecard, Economic Value Added (EVA), Activity Based Costing and Management, Performance Prism and Quality Management. However among the aforementioned tools, importance and usage of balanced scorecard will be principally highlighted through the entire report. While the saying ‘balanced scorecard was coined in the early 1990s’, the origin of this approach however is believed to be deep, and also embrace radical work of General Electric (GE) during the early 1950s. The work was basically based on reporting of performance measurement. Apart from this French process engineers have also contributed immensely towards the development of performance management tools. There work was during the early 20th century. In this context the engineers literally developed a “dashboard” in order to monitor performance levels in a simplified and efficient way. Despite of its early conception, it was originally developed at Harvard business school by Dr. David Norton and Dr. Robert Kaplan in the year 1992. During the initial phases after the development of balanced scorecard, it was merely used as the performance measurement tool or a performance measurement agenda. Nevertheless slowly with the passage of time balanced scorecard has been able to gain much more importance in the professional field. A number of companies incorporated balanced scorecard into their system of operation in order to facilitate effective and well-organized performance measurement system. Nowadays balanced scorecard is considered as a valuable strategic planning tool. It helps an organization to transform its strategic plan from
Balanced Scorecard Table of Contents 1.0 Introduction 4 2.0 Analysis of the Current Situation of Performance Evaluation in the Chinese Commercial Banking Sector 6 3.0 Brief Introduction of the Company 6 4.0 Literature Review 7 4.1 Types of Balanced Scorecard 9 4.2 Cause and Effect Relationships 9 4.3 Key performance indicators 11 4.4 The challenge of implementing the Balanced Scorecard 11 4.5 Conditions for implementing the balanced scorecard 12 4.6 Functions of Balanced Scorecard as a strategic management system 13 4.7 Obstacles and key success factors to implement the balanced scorecard 14 4.8 Balanced scorecard and commercial banks 15 4.9 Problems in managing performance in Commercial bank…
Table of Contents
Literature Review 5
Overview of the Balanced Scorecard 5
Development of the Balanced Scorecard 8
Benefits of using the BSC 11
Balanced Scorecard Implementation in large enterprises and SMEs 12
Criticisms of the Balanced Scorecard Methodology- challenges of implementing the Balanced Scorecard 14
The paper investigates the effect of the balanced scorecard on the performance of the for profit organisations. Balanced scorecard is being used by several organisations in order to improve the overall output and performance. It is used as an important strategic tool which facilitates the organisation in the process of formulating and devising effective and efficient strategies.
Design 21 2.1.4 Alternatives and Criticism 22 2.1.5 Web-based Balanced Scorecard Applications 23 2.1.6 Steps for Implementing Balanced Scorecard 24 2.1.7 The Balanced Scorecard at Philips Electronics: Example 26 CHAPTER 3 31 3.1 Research Methodology 31 3.2 Type of research Methodology 32 3.3 Choice of Research Method 33 3.4 Sources of Data 34 3.4.1 Primary Data Collection 35 3.4.2 Secondary Data Collection 35 3.5 Case Study Design 36 3.6 Sources of Data 37 3.7 Quality of Research Design 38 3.7.1 Construct Validity 39 3.7.2 Internal Validity 39 3.7.3 External Validity 39 3.7.4 Reliability 40 CHAPTER 4 40 4.1 Findings and Discussion 40 4.2 Results 42 4.2.1 Results from Interview 42 4.2.2 Resu
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50 pages (12500 words)Dissertation
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