The Balanced Scorecard: Strategic And Management System Of An Organization

Balance Scorecard

“The balanced scorecard is a strategic and management system that is used extensively 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 (SMGC,2016).”

The Questions are; Where are you? Where you going? And How are you going to get there?

Purpose Behind the Balanced Scorecard

“The balanced scorecard is used to reinforce good behaviors in an organization by isolating four separate areas, such as, the Financial, the Customer, the Internal Business Process, and the Learning and Growth. The balanced scorecard is used to attain

The decision on marketing sales was made from past organization structures, for examples what markets to offer to, what features within those products, how to market and where to market them or sale them, and supporting those sales.

The vision and mission strategy of an organization and require active management to analyze the data collected. Therefore, the balanced scorecard is often referred to as a management tool, not a measurement tool. The tool will show how we will make the strategy become real, by identifying the objectives initiatives targets

How does it reflect the intention of the leadership? What will it communicate to the organization? Will they be able to understand and navigate the information? Function: Management Processes: Translating the vision (make the strategy become real) clarifying the visioning Consensus; Communicating and Linking (inter-related every decision is effected by each other) Communicating and educating, setting goals, linking reward to performances measures; Business Planning (helping to identify targets their important how a flow rate will be effected) Setting Target, aligning strategic initiatives, allocating resources and establishing milestones, and

Feedback and Learning (How to improve reverences?) Articulating the vision, supplying feedbacks, and facility strategy review and learning.

Balance scorecard has a thing such as GAP (desired/Stated Objective and Actual Achievement) when they accrue we have to look at what was the cause of the GAP. Okay, I found and article called The balance, explaining “There is a gap between the rates of return that are earned in the markets when an investor builds a diversified portfolio which is rebalanced in a responsible manner, and the rates of return earned by investors who move their money around in an emotional response to what is happening in the markets