Balance Scorecard

Literature Review fit wag  The balanced wit is a strategic planning and management system that is apply extensively in stock and industry, government, and nonprofit organizations worldwide to adjust 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 transaction School) and David Norton as a performance measurement framework that added strategic non- monetary performance measures to tralatitious financial metrics to defecate managers and executives a much balanced view of organizational performance. Kaplan and Norton describe the variation of the balanced scorecard as follows: The balanced scorecard retains tralatitious financial measures. only if financial measures tell the explanation of yesteryear events, an adequate story for industrial age companies for which investments in long-ru n capabilities and customer relationships were non critical for success. These financial measures are inadequate, however, for guiding and evaluating the locomote that culture age companies must make to create next 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 individually compared to a tar thrum value within a single curt score. The report is not meant to be a replacement for traditional financial or operational reports but a compendious outline that captures the in! formation nigh relevant to those reading it. It is the regularity by which this most relevant information is determined (i.e. the design processes used to destine 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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