Performance Management: using Balanced Scorecard as a tool to improve performance - Dissertation Example

Comments (1) Cite this document
Summary
Performance Management: using Balanced Scorecard as a tool to improve performance Table of Contents CHAPTER 1 6 1.1 Background 6 1.2 Problem Areas 8 1.3 Rational of study 9 1.4 Problem Statement 10 1.5 Research Question 10 1.6 Research Objectives 10 1.7 Literature Review 11 1.7.1 Performance Management 11 1.7.2 Performance Drivers 12 1.7.3 Benefits of Performance Management 14 1.7.4 Balance Scorecard 15 1.7.5 Reasons for Implementing Balance Scorecard 15 1.7.6 Relation of Balance Scorecard with the Strategic Metric 16 1.7.7 Latest Findings on Balance Scorecard 17 CHAPTER 2 19 2.1 Theoretical Framework 19 2.1.1 History of Balanced Scorecard 19 2.1.2 Balanced Scorecard Principles 20 2.1.3…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.8% of users find it useful
Performance Management: using Balanced Scorecard as a tool to improve performance
Read TextPreview

Extract of sample "Performance Management: using Balanced Scorecard as a tool to improve performance"

Download file to see previous pages 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. They also have the responsibility to review the level of performance and control the internal factors. So the management not only monitors the corporate but also business performances in the organisation. Business management functions involve analyzing and organizing the business methodologies, processes and the systems and accordingly work to increase the performance of the business. The balance scorecard methodology is a part of performance analysis tool. This tool was introduced by Robert S. Kaplan and David P. Norton. This helps a company to determine its long term goals and strategies. Basically a company is analyzed from four basic perspectives: growth and Learning, Customer base and satisfaction, financial aspect and finally internal business process of the company (Balanced Scorecard Institute, 2012). Balanced Scorecard concept has become deeply embedded in all kinds of organizations around the world. Organizations have used systems which consist of a mix of financial and non financial measures in order to track the progress for quite some period of time. The balanced scorecard terminology was coined by Schneider man as the roots of the performance management as the activity which runs deep in management practice and literature (Scarlett, 2001, p.41). Kaplan and Norton included the details like non financial measures which would help to compare the target values within a single report. Balanced scorecard is considered as one of the most crucial management idea of this century. The concept was first coined by Robert Kaplan and David Norton in 1992. The idea of balanced scorecard consists of performance prism, third generation balanced scorecard and result based management. In mid 1990s organizational theorists had taken up Norton and Kaplan's work and modified the method of balanced scorecard (Kaplan and Norton, 1996, p.41). In the beginning of the century Frederick Taylor established the concepts of resource allocation. In 1920's motion studies and assembly line was prepared for the production processes. In 1930's the main topic of studies ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Performance Management: using Balanced Scorecard as a tool to improve Dissertation”, n.d.)
Performance Management: using Balanced Scorecard as a tool to improve Dissertation. Retrieved from https://studentshare.org/finance-accounting/1399991-performance-management-using-balance-scorecard-as
(Performance Management: Using Balanced Scorecard As a Tool to Improve Dissertation)
Performance Management: Using Balanced Scorecard As a Tool to Improve Dissertation. https://studentshare.org/finance-accounting/1399991-performance-management-using-balance-scorecard-as.
“Performance Management: Using Balanced Scorecard As a Tool to Improve Dissertation”, n.d. https://studentshare.org/finance-accounting/1399991-performance-management-using-balance-scorecard-as.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
go
gorczanyalexand added comment 1 year ago
Student rated this paper as
Useful paper! Used it to complete an assignment for a finance & accounting course. It was easy as ABC, for the first time in my life.

CHECK THESE SAMPLES OF Performance Management: using Balanced Scorecard as a tool to improve performance

Balanced Scorecard

...? Balanced Scorecard Approach: A Critical Review Balanced Scorecard Approach: A Critical Review Introduction Balanced Scorecard is a strategic performance management tool, which is mainly used by managers to regulate strategy execution activities and subsequent monitoring processes. Although the first Balanced Scorecard was designed by Art Schneiderman in 1970, the concept of Balanced Scorecard was extensively developed and widely popularized by Robert S. Kaplan and David P. Norton....
8 Pages(2000 words)Essay

Management Accounting: Performance Evaluation (Balanced Scorecard)

...of the organization is linked with different measures and not only the financial measures and therefore it is important to consider other aspects as well in order to improve the performances of the organization. This report discusses about this important and widely used performance measurement tools, balance scorecard as well as the report discusses about how balance scorecard is used as a performance measurement tool. Moreover, the report highlights the progress that has been made since the 1990s in balance...
10 Pages(2500 words)Essay

Balanced Scorecard

...necessitated the need for application of sophisticated measurement tools to ensure that business strategies are effectively implemented. In this case, the balanced scorecard comes in handy, as it is capable of providing both financial and non-financial measurements, and communicating the organization’s performance measurements in order for the employees to understand what is required of them in streamlining the organization’s performance. The balanced scorecard can also be used as a managerial accounting technique to improve financial management of an organization, more...
10 Pages(2500 words)Essay

Strategic Management: Balanced Scorecard

... Strategic Management: Balanced Scorecard Strategic planning and management requires businesses and organizations to align their business activities with its mission, vision and the strategy by enhancing the internal and external communications. Achieving the organizations goals therefore require constant monitoring of performance of all the organizational stakeholders. The balance scorecard approach is used by organizations in realizing their strategic goal while looking at the interests of all if not most stakeholders (Pearce & Robinson, 2009). This is opposed to the usual traditional approach where...
4 Pages(1000 words)Research Paper

BALANCED SCORECARD

...Perspective 8 Sales Growth 9 Growth in Operating Activities 9 Free Cash Flow Productivity 9 Customer Perspective 10 Increase in Customer Retention 10 Improved Customer Service 10 Increase in number of Customers 11 Internal Perspective 11 Reductions in Inventory 11 New Product Developments 12 Improvement in Distribution Efficiency 12 Learning and Growth Perspective 12 Employee Turnover 13 High Skill Levels 13 Employee Satisfaction 13 References 16 Formulation and Implementation of Balanced Scorecard of Procter & Gamble Balance Scorecard was developed by Robert Kaplan and Dr. David Norton in the year 1992. It is a tool...
10 Pages(2500 words)Essay

Balanced Scorecard

...? Balanced scorecard [Semester] Balanced scorecard Introduction A balanced scorecard is a performance measurement tool used in strategic management to discover and develop a variety of internal processes as well as assessing of the impacts of the external factors. In particular, the purpose of this technique is to measure and assist organizations in the implementation of their goals and strategies. The balanced scorecard method is used by organizations for different purposes including strategic planning,...
8 Pages(2000 words)Assignment

Balanced Scorecard

...Scorecard is one of the contemporary performance measure systems that the managers engage to gain operational performance insights from various departments of the organization. The Balance Scorecard embraces almost all the facets of an organization and renders more valuable information to managers concerning various critical organizational decisions. Dilanthi et al. propound that, "BSC is a management framework that measures the economic and operating performance of an organization [and] is intended to link short-term operational control to the long-term vision and strategy of the...
5 Pages(1250 words)Essay

The Balanced Scorecard as Performance Managment Tool

...No. 12345 A Research Proposal THE BALANCED SCORECARD AS PERFORMANCE MANAGEMENT TOOL ABC of XYZ Department of LMN 06 April, 2010 Table of Contents Contents Page No Introduction 03 Research Purpose 04 Research Questions 05 Concepts and Theory 06 Research Design 09 Research Strategy 09 Scope 11 Data Sources and Data Analysis 11 Validity and Coherence 12 References 13 Proposed Researched Topic Performance Managemnet Outsource Using of Balanced Scorecard to Improve...
10 Pages(2500 words)Essay

Balanced Scorecard

...September 8, Summary: Balanced Scorecard Balanced scorecard is reportedly a strategic management tool that provides measures or techniques which enable managers to determine the ability of the organization to apply strategies that achieve organizational goals. As indicated, these measures include both financial and operational measures, internal processes, as well as innovation and improvement activities. There have been four crucial perspectives in the balance scorecard concept, such as: the customer, internal, financial, and innovation and learning. The noted benefits...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Dissertation on topic Performance Management: using Balanced Scorecard as a tool to improve performance for FREE!

Contact Us