Balanced score card, Managerial Accounting

Balanced Score Card

This is a popular approach in current management thinking which consists of a variety of indicators both financial and non-financial. The balanced scorecard concentrates on four various perspectives:

Customer Perspective:

What do existing and latest customers value from us? This perspective gives rise to target which matter to customers e.g. cost, quality, delivery, inspection of goods, and handling of goods or customers.

Internal Perspective:
What processes should we excel at to attain our financial and customer objective? This perspective therefore aims at improving internal processes and decision making.

Innovation and learning:

Can we continue to enhance and produce future value? This perspective considers the business capacity to maintain its competitive position through the acquisition of new skills and development of new products. The organization must set targets which will emphasize continuous change in customer needs such as the percentage of sales derived from new products. Comparing with establish ones and the long-term investments undertaken.

Posted Date: 12/8/2012 5:04:12 AM | Location : United States







Related Discussions:- Balanced score card, Assignment Help, Ask Question on Balanced score card, Get Answer, Expert's Help, Balanced score card Discussions

Write discussion on Balanced score card
Your posts are moderated
Related Questions
How costs behave as the level of activity/volume changes.  Why an understanding of cost behaviour is important ? Types Variable e.g. petrol, direct materials Fixed e.g.

The least-cost method The process is described as follows: Assign as much as possible to the variable with the least unit cost in the whole tableau. (Ties are broken randomly).


can you better explain to me the classification by traceability and the classification by function?

ABC Analysis (Pareto Analysis) In ordinary parlance, ABC analysis can be best compared with our class society where the population is categorized into Top, Middle and Lower cla


Find the value of the following: a.    If the total assets are Rs. 87,000 and the liabilities are Rs. 47,000, find out the amount of capital. b.    If the capital of propriet

BUDGETARY CONTROLS Control in a business is the process of guiding organization into viable patterns of activity in an environment. The main purpose of a control system is to m

Loan Syndication : There are two ways of syndication as: direct lending and through participation. - Direct Lending: regarding "direct lending" all the lenders sign the loa

Gather Data about Alternatives When potential areas of activity are specified, management must assess the potential growth rate of the activities, the capability of the company