Balance Scorecard

Literature Review equilibrize wag  The balanced poster is a strategic planning and management system that is utilise extensively in stock and industry, government, and nonprofit organizations worldwide to adapt business activities to the vision and strategy of the organization, improve internal and international communications, and superintend organization surgery against strategic goals. It was originated by Drs. Robert Kaplan (Harvard work School) and David Norton as a performance measurement framework that added strategic non- monetary performance measures to handed-down financial metrics to deem managers and executives a much balanced view of organizational performance. Kaplan and Norton describe the intent of the balanced scorecard as follows: The balanced scorecard retains traditional financial measures. only if financial measures tell the explanation of olden events, an adequate story for industrial age companies for which investments in long-run ca pabilities and customer relationships were non critical for success. These financial measures are inadequate, however, for guiding and evaluating the tour 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 each(prenominal) compared to a tar depict value within a single crisp score. The report is not meant to be a replacement for traditional financial or operat ional reports but a terse outline that cap! tures 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 conduct 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: OrderCustomPaper.com

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