An Organization 's Mission And Vision Statements

Decent Essays

Balanced scorecards have been around since the 1990’s and was developed by Robert Kaplan and David Norton (Edwards (2011) and is used by many organizations of all types all over the world, non-profit, for-profit, governmental agencies, ect., in order to develop a strategic planning and improve strategies within their organizational structures. It pertains to many different aspects from financial aspects, employee retention, and customer satisfaction, internal and external perspectives, to employee morale, as well as accountability. A balanced scorecard will indicate weaknesses and strengths of all aspects within an organization such as finances, the business prospective, short and long term goals, customer satisfaction, knowledgeable concepts, as well as the organization’s mission and vision statements. A balanced scorecard is created to measure the following aspects: perspectives, objectives, initiatives, and targets all under one organization, but when doing so the organization’s mission and vision statements must be focused on as well. Prior to an organization considering implanting a balanced scorecard the following should be considered, in order to be effective in there long range goals and objectives: • Is the organization’s prepared for the results and determining their weakness and strengths? • Is the organization prepared to act on the results and acting on the results to improve the organization prospective future, with the financial, customer, internal and

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