Using the Balanced Scorecard as a Strategic Management System Accounting essay
The Balanced Scorecard in strategic management is a strategic planning and management system that organizations can use to: Communicate organizational objectives. Ensure coordination between ongoing activities and organizational strategy. Define priorities of the products, projects and services. Benefits of Balanced Score Card. Better coordinate the process. Better communication and implementation of strategies. Better performance reporting. Monitor and measure performance. Strategic planning is an organizational management activity used to set priorities, concentrate energy and resources, strengthen operations, ensure that employees and other stakeholders work toward common goals, agree on intended outcomes and assess results. and adjust the direction of the organization. A few years ago we introduced the Balanced Scorecard Kaplan and we started with the premise that exclusive reliance on financial measures in a management system is insufficient. Financial measures are lag indicators that report on the results of past actions. Exclusive reliance on financial indicators could, DOI: 10.1108 978-1-80071-264-ID: 233294089, Using the Balanced Scorecard for Strategic Communication and Performance Management in procedure Oliveira2021UsingTB, title, Using the Balanced Scorecard for Strategic Communication and Performance Management, author Cid \ a lia Oliveira and The Balanced Scorecard is a widely accepted performance management framework first described in the s. More recently it has been proposed as the basis for a strategic management system. Abstract. Purpose The purpose of this article is to develop a deeper understanding of the role of the balanced scorecard in strategy implementation. Design Methodological Approach This article provides a.