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Evaluation of Balanced Scorecard System and Its Implementation

   

Added on  2020-10-04

58 Pages13486 Words63 Views
Evaluation of Balanced ScorecardSystem and its implementation inorganisations

Abstract: Aims “To evaluate the impacts of using Balanced Scorecard (BSC) system intheorganisationsand the implementation of BSC bythe organisations including large companiesand small andmediumenterprises(SME)”.respondent there are many benefits of implementing the balance scorecards for their companies.Balance scorecards which is designed for SME is included similar process with the steps whichare needed for the large organisation. Size is not the factor which decide that company shouldadopted the balance scorecards or not. It benefits company through focusing on activities whichare really important for them.In this study focus of researcher will be on moving from specific information to general.Therefore inductive approach will be undertaken in this research.Interpretivism philosophy isused.Qualitative technquie will be undertaken under which thematic analysis will be done forpresenting the findingsFindingsRespondent there are many benefits of implementing the balance scorecards for theircompanies. Balance scorecards which is designed for SME is included similar process with thesteps which are needed for the large organisation. Size is not the factor which decide thatcompany should adopted the balance scorecards or not. It benefits company through focusing onactivities which are really important for them.

ContentsTable of ContentsCHAPTER 1: INTRODUCTION....................................................................................................11.1 Overview...............................................................................................................................11.4 Focus and Purpose.................................................................................................................11.5 Aims and objectives..............................................................................................................21.6 Research question..................................................................................................................31.3 Chapter structure...................................................................................................................31.7 Framework and analysis........................................................................................................41.8 Potential Significance............................................................................................................5CHAPTER 2: LITERATURE REVIEW.........................................................................................62.1 Introduction...........................................................................................................................62.2 Limitationsof Balanced Scorecardthat the organisations would facein the application...82.3 The positive and negative impact of implementation of Balanced Scorecard in SMEs andlarge companies.......................................................................................................................10CHAPTER 3: RESEARCH METHODOLOGY...........................................................................123.1 Introduction.........................................................................................................................123.2 Research design: ................................................................................................................123.3 Research approach:.............................................................................................................123.4 Sample:................................................................................................................................143.5 Data analysis............................................................................................................................144.1 Introduction.........................................................................................................................17CHAPTER 5: DISCUSSION OF FINDINGS ..............................................................................405.1 Introduction.........................................................................................................................405.2 Discussion based on the findings of Small business enterprises in relation to literaturereview........................................................................................................................................405.3 Discussion based on the findings of Large companies in relation to literature review.......41CHAPTER 6: RECOMMENDATION AND CONCLUSION.....................................................43

6.1 Conclusion..........................................................................................................................436.2 Recommendations...............................................................................................................44References......................................................................................................................................46

CHAPTER 1: INTRODUCTION1.1 OverviewThe balance scorecards is known as the management system as it is a way of looking anorganisation which focuses on strategic goals. Generally it is used for communicating whateverthey are trying to accomplish. Measuring and monitoring the progress toward the strategictargets. In short balance scorecards enable the companies to set, track and accomplish its keybusiness strategies and objectives (Pollack and Ufimtseva, 2016). The management system viewthe organisation from four different perspective and develop objectives. Financial measure isimportant as it is relied by many companies for monitoring their performance. The main reasonfor measuring the financial performance is that measure the performance of the company in thepast and predict how it can perform in the future. For measuring the effectiveness of thecompany it is important measure return on capital employed which is mostly important for theslow moving companies. However, there are some limitation for the such measures. It can helpin measuring the one aspect of the company and there is no link between its result andperformance. Therefore, through introducing the Balance scorecard system it becomes easy forthe firm to measure all the area of business as compare to other method such as financialmeasure which focus on only single aspects. The present dissertation is based on evaluating the impacts of using Balanced Scorecard(BSC) system in theorganisationsand the implementation of BSC bythe organisations includinglarge companies and small andmediumenterprises. Therefore, it is important to understand theimportance of BSC and the way it can be implemented within the organisation. This will helpcompany in identifying the weak area where improvement is required. 1.4 Focus and PurposeThe present dissertation is based on evaluating the impacts of using Balanced Scorecard(BSC) system in theorganisationsand the implementation of BSC bythe organisations includinglarge companies and small andmediumenterprises. Therefore, the main purpose of this researchto analyse the impact of BSC on the organisation and the way it assists in accomplishing the goaland objective of the firm. Balance scorecards is one of the effective tool which is used formeasuring the performance of the companies in order to accomplish the goals and objectivities.A BSC is a structure way in order to test the hypotheses and interrelationships between action1

and results, It is just not a tool for strategic formulation but it is description and interpretation ofthe strategy which help in finding the link between action and their impacts. It helps manager ofthe firm to focus on different that is internal business process, learning and growth. Financial andcustomers. BSC is one of the effective tool and it is more than a collection of the financial andnon financial tools. It is used for communicating purpose, prioritising the product, services andprojects etc. There are many literature who suggested that use of BSC is not effective as muchfor accomplishing the success and they think it has some limitation. Therefore, the purpose of this study is to research the use of the balance scorecards andanalyse the way BSC lead to improve the strategic and performance within the organisation. Thisinvestigation will help in developing a deep understanding related to the topic and provideinformation related to defectiveness of implementing this strategy for accomplishing the strategicgoal1.5 Aims and objectivesAimsThebroad aim is “To evaluate the impacts of using Balanced Scorecard (BSC) system intheorganisationsand the implementation of BSC bythe organisations including large companiesand small andmediumenterprises(SME)”.ObjectivesThe objectives of the study are as follows:To understand the importance of Balanced Scorecard (BSC) system. To identifyany limitationsof Balanced Scorecardthat the organisations would faceinthe applicationTo evaluate the positive and negative impact of implementation of Balanced Scorecardin SMEs and large companiesTo provideconclusion and recommendations on how organisations can be improvedbyBalanced Scorecard.2

1.6 Research questionWhat is the importance ofdevelopment of Balanced ScorecardWhat are the limitationsof Balanced Scorecard that the organisations would facein theapplicationWhat are the way of implementation of Balanced Scorecard in SMEs and largecompanies.1.3 Chapter structureScholar need to follow the sequential pattern at the time of undertaking the researchtopic. This dissertation will be structure by following the series of chapter which can beundertaken as the part of research. Chapters are as followsChapter 1: Introduction – The chapter first provide detailed information related to theselected topic. As it will consist of an overview which provide detailed informationrelated to the aim of the dissertation. The impact of using Balanced Scorecard (BSC)system in theorganisations will be explained in detail. Following these aims andobjectives and purpose of the research will be covered. At last of the introduction chapterdifferent research tools and techniques will be discussed with the importance of theselected topic. Chapter 2: Literature Review – Literature review will cover the background andthedevelopment of Balanced Scorecard. limitationsof Balanced Scorecardthat theorganisations would facein the applicationwill be identified. Along with this the impactof using Balanced Scorecard in the organisationswill be analysed. This segment will layemphasis on covering the aims and objectives of the dissertation. It will be done throughundertaking different types of research conducted by different authors. Chapter 3: Research Methodology – In this section, different types of tools andtechniques which are required for carrying out the current dissertation will be discussed.This will help researcher in taking the present research in a right direction. Along withthis validation of the selected techniques will be provided in this chapter. At lastlimitation and ethical consideration will be presented which are used by the researcher. 3

Chapter 4: Data Analysis and Findings –It is a chapter in which all the collectedinformation will be presented.Chapter 5: Discussion: In this chapter discussion will be done on the collectedinformation and compare it with secondary information. Chapter 5: Conclusion and Recommendations – At the last section, all conclusions willbe provided on the basis of findings. Then appropriate suggestion will be given. 1.7 Framework and analysisDesign of research–In the present dissertation descritptive research design will be used.As it assist in gatehring rich and meaningful information related to the topic. Research approach – In this study focus of researcher will be on moving from specificinformation to general. Therefore inductive approach will be undertaken in this research/Research philosophy –Interpretivism philosophy will be used.Techniques of research –Qualitative technquie will be undertaken under which thematicanalysis will be done for presenting the findingsMethod for data collection – Both primary and secondary method will be used forcollecting the information. In primary research survey method will be used wherequestions will be asked from employees of HK companies. On the other hand forcollecting the secondary information there are different sources such as websites, books,and journals. In the present study literature work is based on the secondary information. Sampling technique – The sample selection for the study will be probabilistic naturewhich provides equal chanced to people from the entire population. Here 50 employeesof HK companies will be selected with the use of random sampling methods. Thequestionnaire will be used in respect to get opinion and view of the employees related tothe impact of balance scorecard. Analysis of data – There is used of qualitative method in respect to analyse the collecteddata. There will be thematic approach will be used for analysing the information which iscollected from primary source.1.8 Potential Significance.The present research is important as it helps in developing the knowledge regarding thepresent topic that is the impacts of using Balanced Scorecard (BSC) system in4

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