Date Written: 2006. One of the most widespread tools is the Balanced Scorecard (BSC). Note: The Balanced Scorecard has made it very easy to communicate the way you talk about your strategy—but having a strategy and discussing it is only one piece of the puzzle. A critical analysis of the Balanced Scorecard - with special consideration to its implications for HRM and HR-policy - Michael Hoffmann - Master's Thesis - Business economics - Business Management, Corporate Governance - Publish your bachelor's or master's thesis, dissertation, term paper or essay Keywords Balanced Scorecard, BSC, Performance Management, Performance Measurement 1. Institute of Economics, Federal University of Rio de Janeiro. affiliation not provided to SSRN. Research shows that companies with a BSC approach tend to report higher quality management information and better decision-making. The Balanced Scorecard approach helps organisations design key performance indicators for their various strategic objectives. Advantages and disadvantages of a balanced scorecard depend on how a … ABSTRACT My thesis paper discussed about “A critical analysis of Balanced Scorecard as a performance measurement tool: an overview of its usage and sustainability”.

Abstract. The Balanced Scorecard is a management system that clarifies the strategy and vision of an organization, translating them into action that can be tracked. Victor Prochnik. Within a decade since its emergence, a majority of the Fortune 1000 companies was implementing … One major criticism of the Balanced Scorecard is that it encourages an internal focus. In showing how daily activities relate to organizational goals, managers can see how the company is performing. Given the dynamic nature of business markets, organizations have witnessed a rapid change in their performance measurement systems in the last three decades with most of the performance measurement tools being more sophisticated. To help overcome this problem, you should ALWAYS start with an external focus – …

Introduction The Balanced Scorecard is a strategic management tool that aims to clarify strategy and to translate it into action.

balanced scorecard research are identified, leading to consideration of several ideas for future research. 27 Pages Posted: 17 Feb 2008. This ensures that companies are measuring what actually matters. Practitioners' Opinions on Academics' Critics on the Balanced Scorecard. Businesses use the balanced scorecard to connect the big picture to the little details. For your scorecard to be effective, you need to be able to execute your strategy—which includes managing it, making decisions around it, measuring it, and implementing it. See all articles by Diogo Santiago da Silva Pessanha Diogo Santiago da Silva Pessanha. This is not as much an indictment of the principle as it is the way companies put the principle into practice. Looking beyond short-term metrics like sales and production statistics, the scorecard measures results in financial and nonfinancial terms. In simple terms, it’s a way of understanding how well the department or entire organization is doing – an alternate, or preferred, way to measure successful strategy implementation that goes beyond financials. The Balance Scorecard is an assimilated strategic performance planning and management