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Benefits of Balanced Scorecard Implementation

2021-03-04 来源: 51Due教员组 类别: Essay范文

今天51due教员组给大家带来的这篇优秀文章讲述的是现在企业组织面临着日益复杂的市场、客户和供应商,以及激烈的全球竞争压力。在这样的竞争环境中,获取正确的信息对于保证高质量的决策和组织的成功是重要的。由于竞争环境中信息需求的变化,会计信息被施加压力,从而增加会计信息的相关性。金融措施的广泛和独占性受到了历史性的批评。金融措施揭示了一个组织过去的行为,但对其未来的警觉性一无所知。对财务指标的排他性依赖可以促进为短期业绩牺牲长期价值创造的行为(DEARDN1969)。

事实上,过分强调实现和维持短期业绩可能会导致公司在短期固定资产上过度投资,并在持续创造价值方面投资不足,这将对其未来的成功产生不利影响。essay代写需要帮忙的亲亲可以联系51due客服进行咨询喔~

             Benefits of Balanced Scorecard Implementation

Introduction 简介

Business organizations are facing increasingly complex markets, customers and suppliers, and fierce global competitive pressures. In such competitive environment, access to the right information is important to ensure high quality decision making and thus, the success of the organization. Resulting from the changing needs of information in a competitive environment, pressure was put on accounting information to increase its relevance. Extensive and exclusive use of financial measures has been criticised due to their historic nature. Financial measures reveal a great deal about an organisation's past actions but nothing about its future alertness. Exclusive reliance on financial indicators could promote behaviour that sacrifices long term value creation for short term performance (Dearden, 1969). Indeed, an overemphasis on achieving and maintaining short term performance can cause a company to overinvest in short term fixes and underinvest in sustainable value creation, which would be detrimental to its future success.

 

In an attempt to remedy the shortcomings of financial performance measures, Kaplan and Norton (1992) devised the Balanced Scorecard which integrates financial and non financial strategic measures. The Balanced Scorecard will be discussed in this paper focusing on what the Balanced Scorecard is, the theory underlying it and how it is being practiced. The manner in which the Balanced Scorecard is practiced in two companies, namely Metro Bank which is adapted from Kaplan and Norton (1996) and Asia Telecom, a telecommunication company whose name is disguised to preserve confidentiality is also discussed in this paper.

 

What is the Balanced Scorecard? 平衡计分卡是什么?

The Balanced Scorecard is a tool, which systematically expands the measurement areas traditionally involved in accounting. It provides a system for measuring and managing all aspects of a company's performance. The scorecard balances financial measures of success with non financial measures of drivers of future performance. These non financial measures include measures on customer satisfaction, internal processes, the organisation's innovation and improvement activities. The Balanced Scorecard measures organizational performance across four different but inter-related perspectives: financial, customer, internal and learning and growth perspectives (Atkinson, Kaplan and Young, 2004)

The Balanced Scorecard, as devised by Kaplan and Norton (1992), is thus a balanced performance measurement system that enables companies to track financial results while simultaneously monitoring how they are building their capabilities with customers, internal processes, employees and systems for future growth and profitability. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results (Kaplan and Norton, 1996).

 

The Balanced Scorecard is a comprehensive framework that translates a company's vision and strategy into a coherent set of performance measures. It is an integral part of an organization's strategy execution process that emphasizes communicating strategy to employees and providing feedback to help attain objectives. The scorecard can be used at different levels of an organization. For each level, the Balanced Scorecard approach identifies the key components of operations, sets goals for them, and finds ways to measure progress toward achieving these goals. Taken together, the measures provide a holistic view of performance both inside and outside the organization, and allow each constituent of the organization to see how his or her activities contribute to attaining the organization's overall mission (Von Bergen and Benco).

 

Essentially, the Balanced Scorecard measures are used to translate vision and strategy into concrete directions for action by people throughout the organization. The measures prescribe a plan for strategic execution and create focus for the future. The measures communicate important messages to all organizational units and employees and thus, influence their actions. To take full advantage of this power, companies soon integrated their new measures into a management system (Kaplan and Norton, 2001). Thus, the Balanced Scorecard concept evolved from a performance measurement system to a strategic management system. The strategic management system focused the entire organization on implementing long term strategy by aligning and supporting key processes.

 

The essence of the above discussion can be summarized using Atkinson, Kaplan and Young's (2004) definition. "The Balanced Scorecard is a strategic management system that translates an organization's strategy into clear objectives, measures, targets and initiatives organized by four perspectives". These four perspectives and other principles underlying the Balanced Scorecard will be discussed in the next section of this paper.

 

The Balanced Scorecard: Theory 平衡计分卡:理论

The Balanced Scorecard is based on several underlying premises. The first is that financial measures alone inadequately measure the health of a company and that a single-minded pursuit of financial objectives could lead to long-term ruin. The second is that Balanced Scorecard focuses on process, not metrics. As such, it is forward-looking (e.g., "How can our organization retain its best customers?") rather than backward-looking (e.g., "What were our organization's earnings per share last quarter?"). The third is that the scorecard is an analytic framework for translating a company's visions and business strategies into specific, quantifiable goals and for monitoring performance against those goals (Von Bergen and Benco)

 

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