The ba lanced scorecard resembles a typical management fashion. Anytown hospital has just finished a twoday retreat where they revised and updated their mission and vision statements and drafted a strategic plan. The balanced scorecard bsc is a strategic planning tool developed by kaplan and norton 1996 as a response to the assumption that organizations only. To compare studentgenerated measures with actual university metrics. Benefits of using balanced scorecard in strategic and operational. The concept of balanced scorecard has evolved beyond the simple use of perspectives and it is now a holistic system for managing strategy. Pdf since the last decades, the performance management has become a legislative requirement for the private and public sectors. It puts the companys strategy into practice it helps to communicate and align the strategy throughout the organisation. Relationships between parts of the balanced scorecard. Balanced scorecard, management accounting and control, advantages. Using the balanced scorecard as a strategic management system.
The name balanced scorecard comes from the idea of looking at strategic measures in addition to traditional financial measures to get a more balanced view of performance. Balanced scorecard example the following is an example of how one might develop a balanced scorecard. The balanced scorecard measures that drive performance. Advantages and contributions in the balanced scorecard. Definition and concept an approach to the provision of information to the management to assist with. The information included is fictional and is provided to simply demonstrate the process. Conceptual foundations of the balanced scorecard 3. The following paragraphs attempt to clarify some of these issues. My experiences as a balanced scorecard practitioner with a large canadian company taught me that tremendous results are possible with the tool, but to attain. By observations of what managers do with the balanced scorecard bsc, the purpose of the paper. Balanced scorecard basics balanced scorecard institute. The balanced scorecard as a performance management. Pdf assessing the balanced scorecard as a management. Nigel evans, 2005,assessing the balanced scorecard as a management tool for hotels, international journal of contemporary hospitality management, v ol.
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