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Critical Review of The Balanced Scorecard -Measures That Drive Perfornnance - Essay Example

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This paper talks about the Balanced Scorecard (BSC) which developed by Kaplan and Norton enables the organization to look at the business from four different perspectives. It has a customer-focused approach, scrutinizes the internal processes, and determines innovation and growth. …
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Critical Review of The Balanced Scorecard -Measures That Drive Perfornnance
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Critical Review of The Balanced Scorecard -Measures That Drive Perfornnance

Download file to see previous pages... This essay declares that BSC helps to identify what does not work so that corrections to the communication plans may be made immediately. Long-term communication policy can be ascertained and the communications strategy can be streamlined with the corporate strategy.
This paper makes a conclusion that the BSC was initially developed as a comprehensive measurement system that incorporated a set of financial and non-financial performance measures which covered different organizational functions and perspectives. However, as organizations started using it, several factors came to light. It was found that it is not viable for smaller organizations because of the costs involved and because they do not have a corporate strategy in place. For larger organizations, it is essential that the different business units are pursuing the overall corporate strategy. The BSC has been successfully implement on both private and public sector organization, in businesses as well as in the health care and the education sector. However, The BSC does have certain critical success factors. These include the involvement of members in the team having diverse skills sets. The scorecard must be linked to the corporate goals and objectives without which the reports generated may not serve the purpose. The senior management should have a clear view of the potential of the BSC because it has been found that unless they are sure of the benefits, they would not be involved or would not be able to encourage others to use it. ...Download file to see next pagesRead More
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