the balanced scorecard’s (BSC) four focus areas are financial, customer, process, and learning and growth. The scorecard incorporates measures derived from an organisation’s strategy. Although retaining financial measures of past performance, the balanced scorecard also introduces the drivers of future financial performance.
To prepare for this:
In formulating your Essay consider the following questions:
- What are the advantages of using the balanced scorecard?
- What are the critical areas that should be considered in its implementation?
- Should the balanced scorecard be used across different organisations ?
In an approximately 500-word response, address the following issues/questions:
Critically evaluate the advantages of using the BSC approach to performance measurement and identify critical areas in terms of implementation of the BSC. Should public sector or not-for-profit organisations develop a BSC? Use examples to illustrate your points as well as suitable academic references.
According to tittle and the idea create 4 Questions and idea and examples in real life with answers with references. Please do not repeat any information you write it before in any parts.
-Butler, A., Letza, S. & Neale, W. (1997) ‘Link the balanced scorecard to strategy’, Long Range Planning, 30 (2), pp. 242–253. DeBusk, D.K. & Crabtree, A.D. (2006) ‘Does the balanced scorecard improve performance?’, Management Accounting Quarterly, 8 (1), pp. 44–48.
Fernandes, K.J., Raj, V. & Whalley, A. (2006) ‘Lessons from implementing the balanced scorecard in a small and medium size manufacturing organization’, Technovation, 26, pp. 623–634.
Kaplan, R.S. & Norton, D.P. (1996) The balanced scorecard. Boston, MA: Harvard Business School Press. Kaplan, R.S. & Norton, D.P. (2001a) ‘Transforming the balanced scorecard from performance measurement to strategic management: part I’, Accounting Horizons, March, pp. 87–104.
Kaplan, R.S. & Norton, D.P. (2001b) ‘Transforming the balanced scorecard from performance measurement to strategic management: part II’, Accounting Horizons, June, pp. 147–160.
Mooraj, S., Oyon, D. & Hostettler, D. (1999) ‘The balanced scorecard: a necessary good or an unnecessary evil?’, European Management Journal, 17 (5), pp. 481–491.
Nerreklit, H. (2000) ‘The balance on the balanced scorecard; a critical analysis of some of its assumptions’, Management Accounting Research, 11, pp. 65–88.