Balanced Scorecard Dissertation Example | Topics and Well Written Essays - 7000 words

Balanced Scorecard - Dissertation ExampleIf you cant measure something, you cant understand it. If you cant understand it, you cant declare it. If you cant control it, you cant improve it by H. James Harrington is justified in every aspects of a business environment (USACE, 2005). Measuring performance in an organizational perspective is as important as its business operations. An organization running its operations without having performance measurement tools can be like a CEO functioning without formulating a strategic plan or an aeroplane flying without its compass. Therefore it can be portrayed that the primary intentions behind measuring performance is to get an root word of how the organization is performing and looking after the possibilities of further development. Performance management enables organizations to measure, plan and control activities in accordance with the predefined strategies. In simple words it facilitates organizations to execute their desired goals (Jo hnson, 2007, p.1-2). Some of the major performance measurement tools that are being used in current business scenario include Balanced Scorecard, Economic entertain Added (EVA), Activity Based Costing and Management, Performance Prism and Quality Management. However among the aforementioned tools, importance and usage of equilibrize scorecard will be generally highlighted through the entire report. While the saying balanced scorecard was coined in the early 1990s, the origin of this approach however is believed to be deep, and also grasp radical work of General Electric (GE) during the early 1950s. The work was basically based on reporting of performance measurement. Apart from this French process engineers brook also contributed immensely towards the development of performance management tools. There work was during the early 20th century. In this context the engineers literally developed a dashboard in order to monitor performance levels in a simplified and efficient way. De spite of its early conception, it was originally developed at Harvard business initiate by Dr. David Norton and Dr. Robert Kaplan in the year 1992. During the initial phases after the development of balanced scorecard, it was merely used as the performance measurement tool or a performance measurement agenda. Nevertheless slowly with the passage of time balanced scorecard has been able to gain much more importance in the skipper field. A number of companies incorporated balanced scorecard into their system of operation in order to facilitate effective and well-organized performance measurement system. Nowadays balanced scorecard is considered as a valuable strategic planning tool. It helps an organization to transform its strategic plan from