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Balanced scorecard and performance evaluation

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Describe in detail how a balanced scorecard could be used for performance evaluation at an organization. Give an example and demonstate how a balanced scorecard can be used.

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The balanced scorecard is a management system that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise. (Source: http://www.balancedscorecard.org/basics/bsc1.html ).

Balance scorecard is a very useful tool for performance evaluation in the sense that it builds alll the evaluation measures around the core business strategy and vision. While the traditional approaches focus mainly on past financial results, the performance evaluation under balances scorecard encompasses other strategic issues in today's fast paced business environment and modern information ...

Solution Summary

The balanced scorecard is a management system that enables organizations to clarify their vision and strategy and translate them into action.

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See Also This Related BrainMass Solution

1. Complete the performance evaluation report for this subunit(round to two decimal places)
2. Based on the data presented and your knowledge of the company, what type of responsibility center is this subunit?
3. Which items should be investigated if part of the management's decision criteria is to investigate all variances equal to or exceeding $10,000 and exceeding 10%(both criteria must be met)
4. Should only unfavorable variances be investigated? Explain.
5. Is it possible that the variances are doe to higher-than-expected sales volume? Explain.
6. Will management place equal weight on each of the $10,000 variances? Explain.
7. Which balance scorecard perspective is being addressed through this performance report? In your opinion, is the performance report a lead or lag indicator? Explain.
8. List one key performance indicator for the three other balances scorecard perspectives. Make sure to indicate which perspective is being addressed by the indicators you list. Are they lead or lag indicat

Requirements
1. Complete the performance evaluation report for this subunit(round to two decimal places)
2. Based on the data presented and your knowledge of the company, what type of responsibility center is this subunit?
3. Which items should be investigated if part of the management's decision criteria is to investigate all variances equal to or exceeding $10,000 and exceeding 10%(both criteria must be met)
4. Should only unfavorable variances be investigated? Explain.
5. Is it possible that the variances are doe to higher-than-expected sales volume? Explain.
6. Will management place equal weight on each of the $10,000 variances? Explain.
7. Which balance scorecard perspective is being addressed through this performance report? In your opinion, is the performance report a lead or lag indicator? Explain.
8. List one key performance indicator for the three other balances scorecard perspectives. Make sure to indicate which perspective is being addressed by the indicators you list. Are they lead or lag indicators? Explain.

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