The balanced scorecard as a performance management. 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. To apply the balanced scorecard to a familiar university setting by creating metrics in the four dimensions of performance. The ba lanced scorecard resembles a typical management fashion. The balanced scorecard measures that drive performance. Relationships between parts of the balanced scorecard. Using the balanced scorecard as a strategic management system. Balanced scorecard example the following is an example of how one might develop a balanced scorecard. 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. Anytown hospital has just finished a twoday retreat where they revised and updated their mission and vision statements and drafted a strategic plan. Nigel evans, 2005,assessing the balanced scorecard as a management tool for hotels, international journal of contemporary hospitality management, v ol.
Balanced scorecard the bsc is used by most fortune 500 companies as a tool to measure performance. The bsc retains financial metrics as the ultimate outcome measures for company success, but supplements these with metrics from three additional perspectives. Eci saw the scorecard as a way to clarify, simplify, and then operationalize the vision at the top of the organization. Design balanced scorecard for hr step by step guide on how to design hr. By observations of what managers do with the balanced scorecard bsc, the purpose of the paper. Benefits of using balanced scorecard in strategic and operational. Balanced scorecard basics balanced scorecard institute. Advantages and contributions in the balanced scorecard. Conceptual foundations of the balanced scorecard 3. The concept of balanced scorecard has evolved beyond the simple use of perspectives and it is now a holistic system for managing strategy.
The information included is fictional and is provided to simply demonstrate the process. Pdf assessing the balanced scorecard as a management. The following paragraphs attempt to clarify some of these issues. 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. Balanced scorecard, management accounting and control, advantages. As the highlevel scorecard cascades down to indi vidual business units, overarching strategic objectives and measures are translated into objectives and. Pdf since the last decades, the performance management has become a legislative requirement for the private and public sectors.
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