Balance Scorecard

Literature Review equilibrise wag  The balanced calling card is a strategic planning and management system that is use extensively in stock and industry, government, and nonprofit organizations worldwide to organize business activities to the vision and strategy of the organization, improve internal and foreign communications, and superintend organization surgery against strategic goals. It was originated by Drs. Robert Kaplan (Harvard crease School) and David Norton as a performance measurement framework that added strategic non- monetary performance measures to handed-down financial metrics to turn over managers and executives a much balanced view of organizational performance. Kaplan and Norton describe the variety of the balanced scorecard as follows: The balanced scorecard retains traditional financial measures. only if financial measures tell the explanation of historical events, an adequate story for industrial age companies for which investments in long capabilities and customer relationships were non critical for success. These financial measures are inadequate, however, for guiding and evaluating the trip that culture age companies must make to create future(a) 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 apiece compared to a tar outsmart value within a single elliptic score. The report is not meant to be a replacement for traditional financia l or operational reports but a stocky outli! ne that captures the information nigh relevant to those reading it. It is the method acting by which this most relevant information is determined (i.e. the design processes used to subscribe to 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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