The Balanced Scorecard: Historical Development and Context, As Developed by Robert Kaplan & David Norton Karl R. Knapp Anderson University – Anderson IN ABSTRACT This paper discusses the general theory of the Balanced Scorecard and traces its historical origins. The Balanced Scorecard is based on three main areas: Measurement, Human Relations, and Customer Value Disciplines. The basis in measurement draws on Management by Objectives. The human relations school of management and open-book
Words: 3416 - Pages: 14
measurement system that include both financial and non-financial measures (Kaplan, 2010, p.2). To answer the call, those professors have introduce in 1992 the balanced scorecard which is a multi-dimensional measurement system considering more than one source of information and including both financial and non-financial information. The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and non-profit organisations worldwide to
Words: 587 - Pages: 3
Volkswagen do Brasil: Driving Strategy with the Balanced Scorecard Q&A Case 3 A Business case Presented to the Accountancy Department De La Salle University In partial fulfillment Of the course requirements In MODMGT2 K33 Submitted To: Mr. Aaron Escartin Submitted By: Apolinar, Jeneva Marielle Arvesu, Franz Nicole Aurelia, Sarah Mae Basquinas, Judith Bondoc, Maureen Felicia April 4, 2014 1. What challenges does Thomas Schmall face upon becoming
Words: 1152 - Pages: 5
as she moves forward with the ongoing merger of the Utah Opera and the Utah Symphony. A balanced scorecard has been provided for both organizations, and this document will include analysis of the strengths and weaknesses of each organization and recommendations that Ms. Ewers can take to address the weaknesses. Additionally, I will analyze the four aspects (including strengths and weaknesses) of the scorecards for each company and finally identify one highly probable issue that could arise during
Words: 6894 - Pages: 28
measures of financial performance didn’t let them manage effectively and wanted to replace them with operational measures. No single measure can provide a clear performance target or focus attention on the critical areas of the business. Managers want a balanced presentation of both financial and operational measures. Performance Measurement can be best understood through considering the definitions of the words 'performance' and 'measurement' according to the Baldrige Criteria: * Performance refers
Words: 1381 - Pages: 6
Balanced Scorecard at St. Elsewhere Hospital 1. What is the Balanced Scorecard/What is its purpose? - The Balanced Scorecard provides a framework for strategic management by transforming a company’s strategic goals into an integrated collection of objectives and performance indicators. The performance indicators are grouped into four perspectives which include: Financial, Customer, Internal Business Process, and Learning & Growth. Objectives are then formed within each of these perspectives
Words: 642 - Pages: 3
they do and how they are used. These systems identified are the balanced scorecard, performance dashboards, and the economic value added. The balanced scorecard is a strategic planning and management measurement style widely used throughout the business world to bring its business activities in line with the vision and strategy of the organization (Balanced Scorecard Institute, 1998-2010). According to the Balanced Scorecard Institute (1998-2010) the implementation increases focus on strategy
Words: 1326 - Pages: 6
Balanced Scorecard 101 A Brief Overview of the BSC Methodology Steve Logan Department of Energy 202 287-1383 Steve.Logan@hq.doe.gov Presentation to the BSIG October 2004 2 “One accurate measurement is worth more than a thousand expert opinions.” - Admiral Grace Hopper, USN 3 What is a Balanced Scorecard? Definition of BSC as a strategic management system Steps in a strategic management system: 1. Clarify and translate vision and strategy 2. Communicate and link strategic
Words: 694 - Pages: 3
in… Balanced Scorecard [3] Database search guide: Lexis-Nexis [4] Some recent acquisitions Welcome: the third issue We decided to devote our third issue to the Balanced Scorecard measurement system due to the information demands we had received about this subject during the last term. Additionally, as a new development, we have introduced a chapter on "how to use databases". In this issue you'll find a search guide for the Lexis -Nexis database. Hope you enjoy it! Top picks in … Balanced Scorecard
Words: 1502 - Pages: 7
Robert S. Kaplan and David P. Norton introduced the balanced scorecard in 1990s,to measure the performances of organization’s strategy. They believed that “the ability to execute strategy was more important than the strategy itself”(Measures that matters. Ernst&Young, 1998.9). Therefore, the implementation of strategy is more significant factor that leads to a successful achievement of organization’s mission. In order to measure the strategy performances, financial measurement was used to keep a
Words: 581 - Pages: 3
