Balanced Scorecard

Marie-Grace Michel A00316529 Management Accounting Seminar Professional Writing # 3 The fit Scorecard tally to the Balanced Scorecard Institute, the balanced scorecard (BSC) is a strategical planning and management system that is mappingd extensively in business and industry, government, and non-profit organizations worldwide to align business activities to the vision and dodging of the organization, improve internal and external communications, and monitor organizational doing against strategic goals. My previous cost management textbook by Horngreen, Foster, Datar, and Gowing, states that the balanced scorecard is an important tool to measure the succeeder of competitive corporate strategy. The article that I decided to discuss, The Balanced Scorecard: Here and Back, depicts the way in which the BSC has unquestionable into this definition entered above. The article discusses the reason why the initial BSC was developed, the way it developed, and practicable future new directions that the BSC can take. I thoroughly analysed this article, as well as a few external sources, to present this paper on the progress of the balanced scorecard and its use in successful business strategy. The balanced scorecard was developed by Robert S. Kaplan ad David P.

Norton, with the aim of helping organizations achieve discovery results by placing strategy at the heart of the organization. It is understandable why such a system was developed, to replace the focus on financial measures of achievement. Focusing solely on financial performance metrics can indicate short run performance, notwithstanding does not address the issues of achieving long term goals. If a unwavering person, with no knowledge of accounting is given a stack of financial ratios and other quantitative reports, he/she may not be able to analyse this information, and see how it will forgo to achievement of the organizations strategy. There is no inexpugnable linkage between the financial measures, and the direction... If you want to get a full essay, order it on our website: Ordercustompaper.com

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