Balance Scorecard

Literature Review equilibrise wag  The balanced scorecard is a strategical planning and management system that is utilise extensively in stock and industry, government, and nonprofit organizations worldwide to queue up business activities to the vision and strategy of the organization, improve internal and outside communications, and superintend organization surgery against strategic goals. It was originated by Drs. Robert Kaplan (Harvard strain School) and David Norton as a performance measurement framework that added strategic non- monetary performance measures to handed-down financial metrics to strain managers and executives a much balanced view of organizational performance. Kaplan and Norton describe the designing of the balanced scorecard as follows: The balanced scorecard retains traditional financial measures. only if financial measures tell the explanation of previous(prenominal) events, an adequate story for industrial age companies for which in vestments in long-term capabilities and customer relationships were non critical for success. These financial measures are inadequate, however, for guiding and evaluating the expedition that culture age companies must make to create proximo set through investment in customers, suppliers, employees, processes, technology, and innovation.

Characteristics The characteristic of the Balanced Scorecard and its derivatives is the presentation of a mixture of financial and non-financial measures distributively compared to a tar aspire value within a single curt score. The report is not meant to be a replacement for traditional financial or operational re! ports but a thickset outline that captures the information nigh relevant to those reading it. It is the manner by which this most relevant information is determined (i.e. the design processes used to exact the content) that most differentiates the various versions of the tool in circulation. As a molding of performance, the BSC is effective in that it articulates the links between...If you want to get a full essay, order it on our website: BestEssayCheap.com

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