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A balance scorecard (BSC) is used to calculate and provide feedback to organisations. It is the overall performance of an organisation in terms of grade or score. It is used in strategic management to identify internal functions of a business and various methods to improve the resulting outcomes. It can also be called as a methodological tool that is used to manage future growth and objectives of a business. BSCs can be both simple and complex depending on the need for the purpose of a company’s metrics. The balance scorecard was developed by Robert S. Kaplan and Dr. David Norton in the year 1992. This concept was introduced through an article published in the Howard Business Review in the same year. Balance Scorecard Assignment Help covers all the topics related to balance scorecard.
Aspects of Balance Scorecard
The four aspects of balance score card explained briefly in Balance Scorecard Assignment Help are
• Financial – The financial aspects of a balance scorecard evaluates and determines that whether the shareholders are getting value by company’s strategy or not.
• Customer – The customer aspects considers the business through the eye of the customer. This aspect of a balance scorecard determines whether the company is meeting the expectations of the customer or not.
• Learning and Growth – Learning and growth aspect of a balance scorecard deals with the training of organisation’s people and implementation of various strategies for the improvement of infrastructure.
• Internal Business Process – Internal business process deals with various improved methods in which a business shall run. This aspect of a balance scorecard focuses on the performance of key internal process that helps to run the organisation.
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This is the most important step which actually defines the strength of any assignment. In order to provide best analysis, our experts not only refer case materials but also outside materials if required to come out with best analysis for the case.
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The Advantages of Balance Scorecard Given in Balance Scorecard Assignment Help are
• A balance scorecard provides a balanced and complete method for evaluating and controlling an organisation.
• It establishes performance measures and objectives in its four aspects as discussed earlier.
• It is helpful in all levels of organisation as it can be used for communication and to understand business goals and strategies.
• It plays an important role in bringing the organisation’s strategy and vision to the center of management focus. This ensures that the management is always follows it.
The disadvantages or Limitations of Balance Scorecard Given in Balance Scorecard Assignment Help are
• Managing a BSC in Excel can lead to various problems like version control issues, formatting troubles, etc.
• For a balance scorecard to be successful it requires strong leadership support.
• It does not monitor technological developments or competitions.
• Due to various problems in the implementation of the strategy, it is difficult to achieve balance between financial and non-financial measures.
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