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The Balanced Scorecard As A Breakthrough In Business - Online Term Paper

The Balanced Scorecard As A Breakthrough In Business

The Balanced Scorecard As A Breakthrough In Business

Balanced Scorecard is a system that combines traditional financial measures and non-financial measures to make the most of information and research result to fill the information gap between departments in an organization. The system also enables managers to design and monitor series of effective processes in the whole organization to increase the business performance.
At first, there was an immediate need for a new integrated system that facilitates managers to build short and long term company progress plan. The existing system either leaned on a sole system approach on one variable or failed to incorporate feedback to the ...

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clarity and utility".
From "Activities Box", managers can perform two perspectives to act out: first the "Learning and Growth Perspective", exploring the need to the full understanding of product characteristics and development, which will facilitate as well as require employee's efforts in mastering the product savvy. It will build the "Internal Perspective", investigating the "cycle time, productivity and processes" during the product development. Both are the basic requirements to attain - known as primary internal process in a corporation. As fundamentals, decent awareness of those features will determine the next accomplishment: the financial goal of the organization. When the functions are achieved, soon they lead to the "Customers Perspective" and finally to "Financial Perspective" as the "outcomes" viewpoint.
Balanced Scorecard's use is defined in two kinds of controls: The Management Control and The Strategic Control. In the Management Control, it asks questions about ...

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The Balanced Scorecard As A Breakthrough In Business. (2015, July 16). Retrieved December 23, 2024, from http://www.essayworld.com/essays/The-Balanced-Scorecard-As-Breakthrough-Business/104783

"The Balanced Scorecard As A Breakthrough In Business." Essayworld.com. Essayworld.com, 16 Jul. 2015. Web. 23 Dec. 2024. <http://www.essayworld.com/essays/The-Balanced-Scorecard-As-Breakthrough-Business/104783>

"The Balanced Scorecard As A Breakthrough In Business." Essayworld.com. July 16, 2015. Accessed December 23, 2024. http://www.essayworld.com/essays/The-Balanced-Scorecard-As-Breakthrough-Business/104783.

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PAPER DETAILS

Added: 7/16/2015 03:25:08 AM
Category: Business
Type: Premium Paper
Words: 915
Pages: 4

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