Nobody downloaded yet

Balanced Scorecard - Book Report/Review Example

Comments (0) Cite this document
Summary
The balanced scorecard helps in achieving this by tracking all the essential elements of the organizational strategy from partnership, teamwork,…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.6% of users find it useful
Balanced Scorecard
Read TextPreview

Extract of sample "Balanced Scorecard"

Download file to see previous pages The complexity of organization management requires managers to be able to visualize performance in several different dimensions that the scorecard allows. This entails the internal business perspective, customer, financial, and innovation and learning perspective. While providing information on the different perspectives, the scorecard minimizes information overload through limitation of the number of measures used. In this regard, the organization cannot suffer too much measures and can add new measures whenever a worthwhile suggestion is put on the table helping the management to focus on the handful measure that are most essential (Kaplan & Norton, 1992). Several companies have adopted this measure and have demonstrated that it brings disparate elements of an organization competitive agendas thus it becomes more customer focused; it improves the quality, enhances teamwork and reduces a new product launch time. Furthermore, it guards against sub-optimization by enabling the management to consider all-important operational measures to determine areas of improvement. Under the scorecard, even the most difficult objective can be attained with a reduced market time.
A company performance to its customers is a major priority for top management. The balanced scorecard aids in this demanding that managers translate their customer’s mission statement on the customer service to specific measures reflecting the customer needs. These customers’ needs fall into four groups namely service, time, cost, performance, and quality. Time determines the required period of meeting the customers’ expectations, as well as the marketing time. Quality measures the accuracy of organizations delivery forecast. Performance determines how company’s products contribute to customer’s value creation. It is fundamental for a company to put a balanced scorecard by articulating ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Balanced Scorecard Book Report/Review Example | Topics and Well Written Essays - 750 words”, n.d.)
Balanced Scorecard Book Report/Review Example | Topics and Well Written Essays - 750 words. Retrieved from https://studentshare.org/human-resources/1676207-balanced-scorecard
(Balanced Scorecard Book Report/Review Example | Topics and Well Written Essays - 750 Words)
Balanced Scorecard Book Report/Review Example | Topics and Well Written Essays - 750 Words. https://studentshare.org/human-resources/1676207-balanced-scorecard.
“Balanced Scorecard Book Report/Review Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/human-resources/1676207-balanced-scorecard.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Balanced Scorecard

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. According to them, a Balanced Scorecard “defines the set...
8 Pages(2000 words)Essay

Corporate Balanced Scorecard

...?Introduction Organizations require performance measurement as a way of ensuring that they have substantial level of control, and in a way would be able to employ corrective measures if necessary. The Balanced scorecard could be such a good measure that would be able to help an organization obtain a remarkable control, performance measurement and a good feedback mechanism to ensure if it has substantially obtained and satisfied established organizational goals. The balanced scorecard is a strategic management and measurement system measuring financial, customer, internal business process and learning and growth performance of an organization and connecting strategic objectives to comprehensive indicators (Armstrong, 2001, p.136... ). The...
10 Pages(2500 words)Research Paper

Balanced Scorecard

...?Running head: Balanced Scorecard Balanced Scorecard Insert Insert Grade Insert 12 March 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. Business and organizational operation environments have increasingly become complex, thus necessitating more complex applications rather than just measuring performance in this era of information. Although organizations measured their performance even before emergence of the...
10 Pages(2500 words)Essay

BALANCED SCORECARD

...? BALANCED SCORECARD WEEK 6 Executive Summary Balanced Scorecard is an important tool developed to measure the level of performance mainly of the employees in an organization. Procter and Gamble (P&G) is a reputed FMCG company which operates its business worldwide. 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...
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, organizational and strategic positioning, improvement of communication and management...
8 Pages(2000 words)Assignment

Balanced Scorecard

...Introduction This paper provides a study of balanced scorecard measure and the significant of its measures in achieving the goals set by an organization. The most important of the company's activities lies in driving maximum level of customer satisfaction through enhanced performance on the part of the company and its people. This objective cannot be achieved unless the company sets specific performance goals and the specific measures to evaluate the level of performance towards the achievement of these goals. As customer satisfaction is the main driver of the organization's profit target, it is of critical importance for the company to enhance its performance level to achieve its goals....
5 Pages(1250 words)Essay

Balanced Scorecard

...Question The expectation of Halifax, Inc. in Balanced Scorecards were to supply efficient and evaluative operational performance, focus on the achievement of core missions, comprehension of the internal and financial performance through analysis of the views and opinions of staff, clarity and definition of customer relations and outlook of managers on improvement and critical performance (Kaplan & Norton 1998). The team assured that every material needed by the scorecard existed. Moreover, they wanted the appropriate modifications on cultural change possible. This held the Customer Focus programme, where the perspective starts at performance management and personal development. Halifax...
12 Pages(3000 words)Essay

Balanced Scorecard

...The Balanced Scorecard s Introduction This present research paper mainly focuses on the Balance Scorecard of Dual-Tech Inc, which is a fictional organization that specializes in the selling and distribution of electrical appliances. The research paper will seek to describe how the balanced scorecard helps the management of Dual-Tech Inc to identify important information requirement. Secondly, the research paper will identify the information systems that Dual-Tech Inc will use to obtain information pertaining to each scorecard component. The Balanced Scorecard Kaplan and Norton (1996), in...
2 Pages(500 words)Research Paper

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 of using balanced scorecard as a...
1 Pages(250 words)Essay

Balanced scorecard

...Balanced Scorecard for Charitable Organization ID Balanced Scorecard for Charitable Organization Introduction In strategicmanagement for any organization ranging from non profit to profit making organizations, there is need to include balanced scorecards to help create a sense of direction for the management to follow during the process of running the organization (Hannabarger, Buchman & Economy, 2011). During strategic management, a number of goals may be developed aiming at improving service delivery and the general aspects that the organization engages in. though balanced score cards, it becomes easy for the...
8 Pages(2000 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 Book Report/Review on topic Balanced Scorecard for FREE!

Contact Us