Balance Scorecard Effectiveness: Strategic Planning in China

This presentation provides an overview of the Balance Scorecard's application in Chinese companies, highlighting its limitations and benefits in strategic planning. It summarizes that while the Balance Scorecard is a valuable tool for assigning priorities and communicating strategic aims, it faces challenges such as a lack of specific guidance for deployment, limited external environmental consideration, and time-consuming implementation. The presentation emphasizes the importance of setting clear aims and developing strategy maps for effective implementation. It also suggests that companies should consider additional strategic approaches to improve their current planning tools and enhance organizational productivity and profitability. The document is available on Desklib, which offers a range of study tools for students.

POWER POINT
PRESENTATION

Table of Contents
Summary-.........................................................................................................................................3
REFERENCES................................................................................................................................5

Summary-
From overall discussion based on specific concept that is Balance scorecard, it has been
summarized that while using the current management system or approach companies in the
China has faced major issues, just because of limitations (Yzeng and Luo, 2013). The worst thing
about BSC is lack of useful and beneficial recommendation about measuring the outcomes of
ventures activities. It may lead to decrease operational effectiveness or efficiency in the
companies, which is not appropriate for their competitive growth in the market. It is one of those
disadvantages that balance scorecard covers and because of that it may put adverse impact on
success criteria and factors of firms. In the recent time balance scorecard is considered as
strategic planning concept that organizations utilize, in order to assign priorities to their items,
services and communicate about targets such as strategic aims, which play important role in the
context of business progress. Due to each limitation such as above one, firms may do not take
any pleasure of monitoring as well as measuring success which is essential for them to do that
because of taking right decision in the future that enable to grow even better than now.
It has been also summarized that balance scorecard may do not cater any specific
guidance for deployment and executive view that may easily install in a company, and used to
achieve key goals. It may only provide wide internal information, that management may already
have, and used to take action and decision in the context of companies growth (Du, 2021), It may
do not posse any info about external things or environment in which firms may exist and run to
reach desire outcomes. It is necessary for each company to know external business environment
even better than internal atmosphere of ventures that management may measure effectively and
appropriately, by conducting internal analysis. As a default, balance scorecard may consider
target audience, but they do not recognize in other key performance indicators like rivals, change
to companies and environment in the industry that has been influenced as well as changed
according to varied terms such as political, economic, social, etc.
Another drawback about BSC is complications that it may encompass, such as in term of
consuming time, which is not up to the growth of organizations, especially those that are
sustaining and operating their ventures into China. It can be said that balance scorecard along
with providing benefits may itself take some dedication and time to comprehend, as it is very
complicated to work with that or produce the same, which may implement in the workplace.

Analysis diversity, time dimension, risk analysis and major complicated process, are limitations
of balance scorecard that lead to decrease any firm progress and effectiveness.
In order to prepare and implement BCS in effective manner in the workplace, there are
several forms of approaches and methods management may take into their consideration. For
example, they may focus on setting clear aim and mission statement, that help to measure
organizational success in appropriate manner. The best way to conduct these two practices is
strategy map development, which may guide individual candidate about how to communicate
and connect business strategy with mission objectives and other concepts. It is important for
management to consider each recommendation and develop plan to implement in appropriate
manner that is as important as to consider business strategies. It may enable individual person to
connect and make appropriate connection between aims and objectives achievement as well as
between both terms with their performance that is beneficial and essential for them to do that.
Another with current, there are more strategic suggestions as effective technique
available in the corporate world, which companies can use to improve, prepare and then
implement current strategic planning tool. They can measure success by outlining the same thing
in form of using internal ventures information. Along with current, it is essential for companies
to consider more approaches and then take as suggestion which they can implement into practical
manner. It is important for each company to do that in effective manner because of reaching
desire outcomes, increasing performance level and profitability. It may contribute to increase
organizational productivity and improve the same thing that is necessary for management to do
so systematically.

REFERENCES
Books and Journals
Du, M., (2021), August. Balanced Scorecard in University Financial Management. In The Sixth
International Conference on Information Management and Technology (pp. 1-5).
YZeng, K. and Luo, X. (2013), The balanced scorecard in China: Does it work?, Business
Horizons, 56, p.611-620.

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