The Balanced Scorecard Is A Technique Execution Administration Device

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1. Explain the Balanced Scorecard. The balanced scorecard (BSC) is a technique execution administration device - a semi-standard organized report, bolstered by configuration routines and mechanization instruments that can be utilized by directors to stay informed concerning the execution of exercises by the staff inside of their control and to screen the outcomes emerging from these activities. Main characteristics of balances scorecard is: • Its emphasis on the vital plan of the association concerned. • The choice of a little number of information things to screen. • A blend of money related and non-budgetary information things. Different factors impact balance scorecard are 1. Finance 2. Internal business processes. 3. Learning &…show more content…
The balanced scorecard is a strategic planning and management system which is helpful in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. The balanced scorecard transforms an organization’s strategic plan from an attractive but passive document into the "marching orders" for the organization on a daily basis. It provides a framework that not only provides performance measurements, but helps planners to identify what should be done and measured. Some of the options are specifically dedicated to performance management and the balanced scorecard. Others tools include primarily designed for business intelligence, analytics or data warehousing, but have modules dedicated to performance management. Organizations have changed in today’s world highly competitive environment must devote significant time, energy, human and financial resources to measuring the performance in achieving strategic goals. Despite the substantial effort and related costs, many are dissatisfied with their measurement efforts. 3. What are some examples where the score card is used (be specific)? One of the organizations using the scorecard is the Mecklenburg County in North Carolina. Before the use of

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