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Bachelor Thesis from the year 2013 in the subject Business economics - Business Management, Corporate Governance, , language: English, abstract: This study aims to investigate the usage of performance measures, conceptualized as the BSC measures, within an organizational context. This research considers itself as a descriptive research. The questionnaire was distributed to 46 private Palestinian firms operating in Ramallah from different sectors. The results revealed that the usage of financial measures is still high and ranked first among the four perspectives of the BSC measures. However, the usage of non-financial measures is growing. Only reliance on financial based performance measures is inadequate in the new manufacturing environment. Increase awareness of the importance of non financial performance measures in providing long-term value creation and long-term strategic focus as well as their effects on firm performance leads to several innovations in the area of performance measurement system. One of the widely known innovations in this area is called balanced scorecard (BSC) which has been originated by Kaplan and Norton in 1992. The BSC combines traditional financial measures with non-financial measures through focusing on four perspectives – financial, customers, internal business processes, and learning and growth.
Bachelor Thesis from the year 2005 in the subject Business economics - Business Management, Corporate Governance, grade: 1.0, Anglia Ruskin University, language: English, abstract: In today’s business environment measuring business performance is a matter of life and death within any organisation (compare Ittner and Larcker, 1998). Due to the changing nature of work and increasing competition with changing demands (Neely, 1999) the number of people interested in business performance measurement has recently increased dramatically. But business performance measurement is confronted with a vital choice what system the company should use to quantify the success of the organisation’s strategy. In this context the Balanced Scorecard(Kaplan and Norton, 1992, 1996) is almost used as a synonym for measuring Business Performance Measurement (BPM). With this in mind, the following dissertation aims at a critical exploration and assessment of the framework of the Balanced Scorecard (BSC) and it examines if this framework merits its wide popularity experienced and still experiences. Following a definition of the BSC, the author turns to the elements of the BSC with its key proclamations. Strengths and weaknesses will be outlined by considering different case scenarios. The main attention will be put on the question whether the BSC leads to better business results, as it is publicized, or if its wide use is only an outcome of its effective promotion. Before the analysis comes to an ending in which it summarises the key points, the author suggests some recommendations for organisations when using the BSC, in order to meet its problem areas. In this context the author’s personal view will be flowing in.
“When you can measure all those words that you are talking about, and break them into numbers, you know really something about it. To the contrary, when you are not measuring anything at all, then you have no idea on what you have spoken. You have no control over your sayings. The knowledge can be meager in that way, and that could be unsatisfactory as well, says”, Dr. Kaplan. In other words, if you can measure, then you could improve. That is the reason, why business metrics were introduced to measure the performance standards of the organizations, towards improvisation. That is all balanced scorecard is about. Let us see about that in detail.
Nowadays, many companies should not only discuss about how to obtain profits from their products. They should also be forced to use any other aspect that has the ability to increase the impact for their long-term success. Examples are: discussing about the quality of their products, the relationship between them and their customers and employees, the production process as well as marketing. Those are the challenges for all managers who are not only struggling to achieve their company’s targets - high profits - but also to achieve customers', employees' and stakeholders' satisfaction. Therefore, managers need to seek out an approach which is able to help them finishing their tasks and involves all the aspects mentioned. Nevertheless, it is not easy to reconcile conflicting demands of individual interest groups. The concept of the balanced scorecard (BSC) is one of the modern approaches to handle these challenges. The balanced scorecard is the main topic of this book. More precisely, it explains the benefits of introducing the indicators-based balanced scorecard as a strategic controlling instrument for implementation of a corporate strategy from four different perspectives: financial, customer, internal business process as well as learning and growth perspective.
Business Intelligence (BI) and Performance Management (PM) – the development and delivery of business insight for users and the management of execution based on that insight – are two solution-types that promise to bring great value to enterprises. Yet most organizations haven’t yet realized the elusive bene?ts of these two important disciplines. The reasons for this are manifold. However, the primary causes are the culture of the organization and it leadership. This is a topic, which I’ve addressed at length in my latest book: Pro?les in Performance – Business Intelligence Journeys and the Roadmap for Change. The culture and leadership of the organization determines the importance and strategic intent surrounding the use of BI and PM. Sadly, most organizations lack the motivation to embrace transparency and accountability – or to align with the strategy of the organization – enabling execution and coordination in unison with the mission. However, once an organization and its leadership are ready to take a step towards real change – creating an environment of openness, sharing and alignment – with BI and PM as its centerpiece – the next question then becomes one of “how and where to begin”? Even with great strategic intent, missteps in the development and deployment of BI and PM and can cause disillusionment and disappointment – lending support to the naysayers of the organization – and leading to failure and abandonment of these critical programs.
The balanced scorecard (BSC) is increasingly the strategic business tool of choice for many organizations. One of the four components of the BSC, ?learning and growth,? is largely misunderstood, underutilized, and ineffectively applied. The BSC framework provides an opportunity for management and workplace learning and performance professionals to communicate through a common language, establish realistic and measurable targets, and align and support the rest of the organization in a strategic way. This book provides proven guidance and customizable tools to measure the role of learning and performance, link it to organizational objectives, and communicate to management results in a common language.
Master's Thesis from the year 2007 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, London School of Economics and Political Science, 25 entries in the bibliography, language: English, abstract: The Balanced Scorecard is designed and implemented as a strategic management and measurement system. It uses a broad range of innovative indicators and enfolds the overall strategy. Especially, it has extensive implications on human resource processes and its strategic orientation within a company. The development and implementation of a complete BSC is associated with the parallel adoption of a high-performance-work-system and a long-term orientated HR-strategy. With support of the BSC, human resource management becomes a partner with business, which manages its employees as adding value assets and includes HRM in business strategy. HRM gains in importance and makes an essential contribution to the business-wide human resource and organisation development. Empirical results show that it is possible to successfully implement the BSC and the involved long-term orientated HR-strategy in both already long-term and stakeholder orientated enterprises and previously short-term and shareholder orientated companies. Different researchers verified that the implementation of a BSC by simultaneous use of a HPWS is associated with an essential improvement of business performance and development as well as better financial results and higher profitability.
This paper provides systematic research-based evidence on the usage of the Balanced Scorecard (BSC) concept in Sri Lankan Universities. This typology ranges from the BSC's origin as a multidimensional framework for strategic performance measurement that combines financial and non-financial measures to its advanced usage as an integrated strategic management system. Robert Kaplan and David Norton (1992) present their Balanced Scorecard (BSC) framework as comprehensive techniques for the performance management of their organizations. The BSC widely used method to improve on an organizations performance and it is essential for universities as the centers of education, knowledge creation and knowledge worker evolvement. However, for the evaluation of performance universities still refers to traditional financial data, which could not understand and influence and defect of performance on a Sri Lankan Universities completely. This study explores to develop of the Balanced Scorecard framework in Sri Lanka Universities and finds that, although universities are increasingly using it. The study consists of all departments under each Management Faculties and achieved an overall response rate of 84.78%. After the Balanced Scorecard is designed, the perception of management staff on its use is also investigated. The results reveal that staff welcomed the use of the Balanced Scorecard.
Since its introduction by Kaplan and Norton in 1992, the Balanced Scorecard (BSC) has gradually been adopted as a fundamental system of management by many organisations. Because the BSC is mainly designed for large companies in developed countries, there is a question of its successful application in Small and Medium-sized Enterprises (SMEs), especially those in developing countries. As there is little research in this area, this book is designed to fill that gap. In this book, Vietnamese SMEs are used as the central study cases for the application of BSC. Such a system enables SMEs to meet their management needs more quickly. Lessons learned in this study can be extended not only to other Vietnamese SMEs but also to firms in other countries with similar economic conditions. The book will also provide an improved understanding on factors influencing the adopting process.