The Top Most Duty Of Senior Finance And Management Professionals

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The top most duty of senior finance and management Professionals is to manage organizational resources in a way that accomplish organisational goals. To achieve this goal many procedures, processes, techniques and frameworks have been designed and evolved to assist organizational management in value-based management, customer satisfaction, total quality management (TQM), performance management, and more. This report focuses on the application on one such framework, the balance score card, designed to enhance strategic performance in an organization. .Originally developed and recognised as a performance measurement tool but since incoporation of many ideas, the scorecard is now linked increasingly with strategy execution. Till today…show more content…
At the end we will also look at how Apple Inc. proves to be a benchmark in handling SC limitations.

Purpose:
• What is balanced score card?? how it has evolved ??
• use of the balanced scorecard to link strategy to resources and then to performance
• review the strategy mapping process of Apple INC. using BSC technique
• different KPI’s (financial and non-financial) linked to incentive management and further to BSC
• Limitations to BSC and KPI development, how Apple proves to be the benchmark in tackling these limitations.

Balanced score card -from performance measurement to strategic management
Management Controll System
The literature on management control systems (MCS) takes a dynamic approach towards how companies organize and control operations to practice business strategies. Anthony (1989) described it as a process by which managers guarantee that the resources are being utilized effectively and efficiently in the accomplishment of the organization’s goals” Anthony, RN, Dearden, J & Bedford, NM 1989, Management Control Systems, Homewood, IL., Irwin.Govindarajan (2004) described it as an influential process by managers for strategy appliance by every other member of organization
Anthony, RN &Govindarajan, V 2004, Management Control Systems, McGraw-Hill, New York..Garrison & Noreen (2000)
“Those steps taken by management that attempt to increase
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