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Balanced score card (Kaplan and Norton)
Balanced score card is a strategic planning and management system used in business and industry. It can also be used in government and non profit organizations to support business activities towards the achievement of vision and strategy of the organization.
|language || ||english
|wordcount || ||2380 (cca 6.5 pages)
|contextual quality || ||N/A
|language level || ||N/A
|price || ||free
|sources || ||5
Table of contents
Back ground of balanced scorecard 1
The description of Kaplan and Norton about balance scorecard 2
How balanced scorecard works 3
The Learning & Growth Perspective 3
The Business Process Perspective 3
The Customer Perspective 4
The Financial Perspective 4
Strategic measures 8
Performance target 9
Improvement projects: Balanced scorecard 9
Preview of the essay: Balanced score card (Kaplan and Norton)
It evolved in the 1990’s with the pioneering work of General Electric on performance measurement reporting in the 1950’s and the work of French process engineers. The French engineers created the Tableau de Bord i.e. dash board of the performance measures in the early part of the 20th century. At first balanced scorecard was used as a simple performance measurement framework. It then evolved to a full strategic planning and management system. This balanced scorecard could change the strategic plan of an organization from an attractive but passive document into the marching orders for the organization on daily basis. Balanced score card provides a framework ...
... scorecard as a management system increases the focus on strategy and results. It improves organizational performance by measuring what is necessary. It aligns the organization strategy with the employees’ performance on daily basis. With the use of balanced scorecard there is focus on the drivers of future performance. It improves communication of the organizations vision and strategy as well as prioritizing the project initiatives.
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