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(Solution) Balance Score Card : PDF

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Added on  2021-04-19

(Solution) Balance Score Card : PDF

   Added on 2021-04-19

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Running head: BALANCE SCORE CARDBalance Score CardName of the StudentName of the UniversityAuthor’s Note
(Solution) Balance Score Card : PDF_1
1BALANCE SCORE CARDIntroductionBalance scorecard can be considered as a specific system of management that mainlyaims at translating strategic goals of a corporation into a set of performance goals. The identifiedperformance goals necessarily are enumerated, monitored and altered if necessary to makecertain that organizational objectives are satisfied. The current segment intends to analyticallyevaluate efficacies of a balance scorecard in enumerating performance of an organization.Essentially, the balance scorecard has four different areas of measurement or perspectives ofmeasurement namely the financial perspective, business procedures, specific aspects of learningas well s growth along with customer perspectives. It ensures that it indicates of day-to-day alignment of operations with the strategic plan ofthe business (Friedagand Schmidt2015). The method balance score card is a very useful tool forprioritizing the products, projects and other kinds of services and it also helps in themeasurement of the progress of the company performance with respect to the strategic targets ofthe company.Balance Scorecard refers to the methods that measure the organisations performancethatare used in the process of strategic management. It helps in improving and identifying of theinternal function of the organisation (Rampersadand Hussain2014). Dr. Robert Kaplan firstintroduced the concept of Balance Scorecard in a business journal of Harvard. The measurementis done based on the four-segregated areas of the balance scorecard. The balanced scorecardappears as one of the crucial tools in multidimensional aspects, especially in the cases ofstrategic management planning of the commercial institutions across the global framework.
(Solution) Balance Score Card : PDF_2
2BALANCE SCORE CARDDiscussionsBalance Scorecard is a used as a technique thatreflects the relationship between thestrategic elements of the company including that of the mission and vision, elements ofoperations and other core segments of the business, the tool being effectively and widely utilizedin the public agencies and non-government firms. At present a research has been conducted,according to which it has been showed that the balance scorecard is one of the five among thetop ten tools of management (Fooladvand, Yarmohammadianand Shahtalebi2015). It is aflourishing concept that is used by the organizations for the measurement of performance andplan of strategies.The various part of Balance Scorecard are shown below in the chart:Figure 1: (Balance Scorecard)
(Solution) Balance Score Card : PDF_3

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