Benefits of using balanced scorecard, Strategic Management

Assignment Help:

Benefits of using balanced scorecard (BSC)

- BSC encourages a long-term view of improving performance through time.

- BSC considers both non-financial as well as financial measures to give a better overall picture and holistic view of performance.

- BSC performance measures can be ‘tailor made' e.g. bespoke performance measurement that can be more specific to an industry.

- BSC can monitor and control operations e.g. spot problems such as product returns, complaints, warranty claims, failure to innovate or satisfy customers.

- BSC can communicate and publicise goals and objectives to all stakeholders.

- BSC perspectives can be linked to the remuneration of management and staff to improve overall performance.


Related Discussions:- Benefits of using balanced scorecard

The strategic management process, what is the greatest takeaway from this c...

what is the greatest takeaway from this case in terms of strategic management

e-strategy in organisations, 1 - Describe the Benefits of Having an E-Stra...

1 - Describe the Benefits of Having an E-Strategy in Organisations. 2 - Estimate the Contribution of an E-Strategy to the Achievement of an Organisation's Objectives. 3 - Tal

Profile international markets, Using online research and the resources on t...

Using online research and the resources on the Student Portal, select and undertake market research of 2 possible "emerging economy" countries where Eatmore & Green might be able t

EFE Matrix, Prepare an EFE Matrix for our university Islamic international ...

Prepare an EFE Matrix for our university Islamic international Islamabad by identifying and evaluating external opportunities and threats facing higher education in your state ,the

Which of the following are recognized implementation methods, Trail and dis...

Trail and dissemination Parallel conversion Direct conversion Phased conversion

Factors about transfer pricing, Q. Factors about transfer pricing? ...

Q. Factors about transfer pricing? Does the supplier have a solid track record for delivery e.g. references from other satisfied customers in terms of the quality of servic

Opportunities in swot analysis , Opportunities: The hotel has now 20 spaci...

Opportunities: The hotel has now 20 spacious rooms that can offer excellent comfort and luxury to the upper middle class people who visit the place. The rooms are completely booke

Evaluating the performance of divisions, Q. Evaluating the performance of d...

Q. Evaluating the performance of divisions? The controllability principle is concerned with assessing performance based upon measures that can be controlled only by a manager a

Create a pivot table, One rich seam of experimental data comes from meteoro...

One rich seam of experimental data comes from meteorological measurements.  Thousands of measurements are recorded each day by the Australian Bureau of Meteorology (BoM). This assi

Professional strategies to increase personal networking, Cham Stores is one...

Cham Stores is one of the biggest private sector employer in the Syria. The company has more than 2000 employees in Syria, Emirates and London. In Syria, Cham Stores range from sma

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd