Discussion and Response Balanced Scorecard
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Module12BalancedScorecard_post1.docx
The world is rapidly growing towards an era of fast commercialization, industrialization, digitalization and globalization to pose serious challenges for any small to mid-scaled to large-scaled industries or individual companies to keep track of the latest trends in their industry, competition, opponents as well as the technological edge in the current market (Benková et al., 2020). The role of senior management in the organization is playing a vital role more than ever to evaluate their organizations, teams and department’s performance metrics in order to make informed decisions about aligning the performance of the technical and non-technical resources with the organization goals and success (Hepworth, 1998). The Balanced scorecard aims to improve business management strategies by evaluating key business aspects i.e. customer value, internal business processes as well as the innovation and growth culture that plays an important role in maintaining the equilibrium between the resources and the business goals of the organization.
The four journal articles that was reviewed thoroughly involved comparing performance and contribution of the balanced scorecard was in the field of Information security, Information science and engineering, higher education institutions and the project management office. The first research article talked about the growing threats being posed to the information security architecture for organizations in various industries where there have been a growing concern in the cybersecurity world and that how the security leadership team could utilize the balanced scorecard method in evaluating the performance of various security processes and practices being followed for the critical security assets, resources, security project portfolio as well as the future security investments that could be aligned to the corporate goals of future security development strategies in the present as well as in the future to become a security vigilant organization (Herath et al., 2010). The balanced score for security metrics could be designed in such a way that it maintains its simplicity, explicit linkage and senior leadership determination across the organization. The second journal articles talks about how different modeling techniques could be applied in the balanced scorecard algorithm to determine key performance indicator that could ultimately attract stakeholders in perceiving the value being delivered by the IT organization to its business entities. This article expresses how the feasibility of the scorecard could be transferred and used in any shape and hypothetical analysis in testing the driving factors towards aligning IT resources with the corporate goals (Sandkuhl & Seigerroth, 2018). The third article talks about how the use of balanced scorecard becoming popular among the higher education institutes staffs including the professors and the students evaluating key educational processes, practice, class structure, course objectives, learning management system, etc. (Nazari-Shirkouhi et al., 2020). to drive the brand value of the universities in the market to be able to attract more quality students, professors and tech-savvy staffs that could be evaluated and implemented through the balanced scorecard business performance metrics. Finally, the fourth article iterates the lifecycle of a typical project management office incorporating various university project portfolios through a span of 4 multiple years. The balanced scorecard hypothesis was applied to their various collaborative research projects to evaluate their business value to the overall university goals and objectives (Benková et al., 2020). The use of the balanced scorecard included heavy investment in the data collection, maintaining data integrity, survey collection as well as the data security complying with various data regulatory requirements.
The overall impression that could be perceived reading these four journal articles that the balanced scorecard techniques have been followed for ages and organizations have started to consider its advantages to create a direct alignment of the IT resources with the overall goals and objectives of the organization.
As an IT professional especially in my industry i.e. Information security, I would utilize the balanced scorecard in evaluating various security tools, products, procedures and processes against various security threats, attacks that are being posed to the organizations on a daily basis. I would also use the balanced scorecard to evaluate various security project portfolios that could or could not justify the security investments in order to align the organizations and IT security resources with the overall business development, growth and success of the company.
References
Benková, E., Gallo, P., Balogová, B., & Nemec, J. (2020). Factors Affecting the Use of Balanced Scorecard in Measuring Company Performance. Sustainability, 12(3), 1178. https://doi.org/10.3390/su12031178
Hepworth, P. (1998). Weighing it up ‐ a literature review for the balanced scorecard. Journal of
Management Development, 17(8), 559–563. https://doi.org/10.1108/02621719810228416
Herath, T., Herath, H., & Bremser, W. G. (2010). Balanced Scorecard Implementation of Security Strategies: A Framework for IT Security Performance Management. Information Systems Management, 27(1), 72–81. https://doi.org/10.1080/10580530903455247
Nazari-Shirkouhi, S., Mousakhani, S., Tavakoli, M., Dalvand, M. R., Šaparauskas, J., &
Antuchevičienė, J. (2020). IMPORTANCE-PERFORMANCE ANALYSIS BASED
BALANCED SCORECARD FOR PERFORMANCE EVALUATION IN HIGHER
EDUCATION INSTITUTIONS: AN INTEGRATED FUZZY APPROACH. Journal of
Business Economics and Management, 21(3), 647–678.
https://doi.org/10.3846/jbem.2020.11940
Sandkuhl, K., & Seigerroth, U. (2018). Method engineering in information systems analysis and
design: a balanced scorecard approach for method improvement. Software & Systems
Modeling, 18(3), 1833–1857. https://doi.org/10.1007/s10270-018-0692-3
