Balance score card is a performance base assessment. This allow a company to
measure the level in which it Perform. This is needed to show and prove the Proof
of concept and what is allowed and what need to change in one’s company. Mid
level manager a believe should be in charge is that score card. Organization are
basic out of management different things don’t usually go after the same thing . For
example a bank would focus more on the financial aspect of a score. Seeing as to
money is it primary source of work. But a place like tiff treat may lean heavy on
customer aspect of the score card . The two are mutually important. And both can
be used in each company, but primary to focus on may be different, depending on
the focus of that company. Scorecard should we reviewed on a consistent basis after
reviewing an action plan should be formed to take the necessary steps to increase
that scorecard so that the design outcome is reached. This is why a scorecard is
important . A Balanced Scorecard is most useful when the company wants to
identify the factors hindering business performance. It also enables a company to
measure the effectiveness of an activity against the strategic plans. Managers in
charge of performance in an organization manage the balanced scorecard. It helps the
organization identify and improve internal business functions. The four dimensions of
performance in a balanced scorecard are financial, customer, internal process, and
learning and growth. Organizations differ in how they operate and measure
performance. For instance, financial performance is more beneficial to profit-making
companies than non-profit organizations. A balanced scorecard is implemented to
make sure that companies and their employees are in alignment and working towards
the same goal. It helps give the stakeholders a more comprehensive view by
featuring financial measures with additional metrics that quantify performance in
areas such as customer satisfaction and product innovation. Some advantages of
having a balanced scorecard include that it aligns your sectors and divisions, keeps
your strategy prominent during the reporting process, makes it easier to communicate
your strategy, connects the individual worker to organizational goals and sets and
tracks progress against those goals. One aspect of the scorecard is data entry. It is
needed to be successful but this can be a disadvantage to some companies over
others depending on how it is implemented. If the process is too tedious some
workers may skip pertinent steps needed to keep it updated and the most effective.
The Balanced Scorecard is a tool that can help a business to figure out key
performance indicators, and use various strategic objectives. The balanced scorecard
will make it easier for a business to measure what really matters. The balance
scorecard approach helps to provide a business with a higher quality management.
If you are in a large company there’s probably going to be an Office of Strategy
Management responsible for driving the strategy formulation process and for
performing strategy evaluations. And if you are in a smaller company, you would
most likely run your reporting through a Chief Operations Officer. If you are in a
nonprofit organization, reporting is going to usually be handled by a Chief Financial
Officer. A balanced scorecard is supposed to help your company or business to
provide a framework to work with. Even with that framework in place your
company will still probably need to be customized to its individuality. Every
business has a different objective. Every business has its own mission. So it will
take time to figure out your companies goals and align them with the BSC.
The framework itself of balanced scorecards takes time and a lot of dedication for
the company to start to figure it out. There is a lot involved with tons of resources
and tons of case studies. It would be easy to get bogged down with the many
different ways of using this method. It is better in some cases you use this method
than in others.
Companies using his work hard help some evaluate in pin point what needs to be
improved and what can stay the same. There are four different areas that are are as
follows internal business process, customers point of views, financial and growth.
We’re looking at all four of these areas that are listed and evaluating using the
scorecard most companies want to know what they are satisfied with as far as what
can stay the same. Personal opinion is I believe that everything is always open for
improvement but sometimes they want to focus more on the customers one of you
or we satisfying our customer service for full capabilities? In most situations I would
say that the financial part is always capable of being changed. there’s always ways
to try to cut costs, but sometimes if you cut too much, your customer satisfaction
goes down. looking at the overall scorecard I see that even though one thing maybe
higher than the others does it make it less important. I don’t feel as if using his
work card will always have its advantages. A balanced scoreacard is used when
companies are looking for a tool to identify internal and external function. This will
assist them with pinpointing and improving upon various functions that will result in
a positive outcome. When using the balance scorecard, there are four areas that the
companies need to focus on in order to arrive at a beneficial result: 1) Customer's
point of view 2) Internal business processes 3) Growth and learning 4) Financial
perspective. When developing visions and goals for the company the scorecard
provides an outline of the key areas. Executives and managers would be in charge
of the scorecards because they are the ones that set the vision and goals of the
company. Most of often it would be the managers that would untimately be in
charge because they are the ones who most likely communicate the vision and goals
to the front line workers. The scorecard would be most useful when introducing a
new vision to the organization. It helps companies adapt to trends and the changes
in society. It will also be used when management discusses measurable goals with
their team to illustrate how the goals should align with processes. The scorecard is
also useful when a company wants to know where it stands with their customers.
Recently the city conducted a citizen survey asking citizens what they would like to
see more of such as: 1) family oriented establishments 2) more eat in restaurants 3)
more high end stores, etc. While this approach may assist them with the citizen
perspective and the learning perspective it would not do much for the financial
perspective because it is city government which involves tax payer money. Also, a
scorecard is only as effective as the management and if there is not an effective city
manager in place the scorecard proves ineffective. The scorecard would be most
beneficial customer driven industries that rely both internal and external customers.
A Balanced Scorecard is a process that helps improve internal and external strategic
performance by assisting in the measurement of the nearness of the goals from an
executive standpoint. It measures 4 different aspects: Learning and growth, business
processes, customers, and finance.
Every company has different goals and their goals do not necessarily line up with
the goals of the next company. Some may focus more on customers than the
learning and growth because they feel that they have reached their potential and
desire to focus on longevity. There are many different reasons as to why one may
find one aspect more important than another but they all work together to reach one
common goal, success.
A Balanced Scorecard is a strategic management performance metric used to identify
and improve various internal business functions and their resulting external outcomes.
This can be used to measure and provide feedback to organizations. The information
provided by the scorecard helps management to make better decisions for the future
of their organizations, (Tarter, 2022).
A companies executives or team leaders can benefit from creating and implementing
a balanced scorecard into their evaluation process. How often the company use the
scorecard depends on the needs of the company.
There are four perspectives of the Balance Scorecard: financial, business process,
customer, and organizational capacity. These perspectives allow organizations to be
informed of their shortcomings and come up with strategies to overcome them as
well as helps to identify what metrics actually matter to the company.
For example if a companies mission is to ensure a high level of customer
satisfaction, a balance scorecard can be used to measure this goal. It can help
determine if this specific metric is high or low and determine the actions needed to
improve, (Tarter, 2022).
The balance scorecard may also be used by a company as a means of
communication to employees throughout the company. It can provide a clear picture
of the companies mission, goals and where the organization currently stands in
meeting those expectations. It allows the employees to be included and informed by
displaying how their performance contributes to the organizations targets, (Tarter,
2022). Many companies track and manage their organizational strategy by using the
Balance Scorecard. This sort of system centers around indicators that are equally
balanced which can determine the outcome of a company goal(s). BSC is most
useful for tracking strategic performance through monthly annual and quarterly
reports. Companies set strategic goals, define action plans and develop KPIs and
metrics to meet company goals. In utilizing the Balanced Scorecard, the outcome
should result in aiming to increase financial health, innovation, and customer
satisfaction.Balance Scorecard is used throughout many companies for being a viable
estimation model as it centers around future value. It empowers businesses to reach
goals by taking goals and breaking them into measures providing a cohesive strategy.
Companies will find that using the scorecard is adaptable ad used with a variety of
programs and formats. Some businesses find that it's important to align their
activities with their strategies and gauge their outcomes from those actions to acquire
knowledge of their strategic performance. They can rate their clients or customers
over time along with understanding how customers view their company. The
balanced scorecard is an instrument managers use to assess a company's performance.
Rothaermel (2021) stated, "This approach harnesses multiple internal and external
performance metrics to balance both financial and strategic goals" (p.171). It helps a
company set strategic goals, lay out an action plan, and use metrics to monitor its
accomplishments. A balanced scorecard is most useful when an organization wants
long-term financial achievement. The person in charge of the balanced scorecard
should be someone with specific personality traits such as organized, energetic, detail-
oriented, time efficient, and be able to communicate efficiently (Jackson, n.d.). This
is not a one-person job. It requires the cooperation of different areas of the
organization to collect the information needed for the balanced scorecard.The aspects
of the balanced scorecard are different for each organization because each company
may want to focus on a specific area. For example, company A wants to focus on
the financial side of its business, but company B wants to focus on customer
satisfaction first. Therefore, both parties will cover the financial, customer, internal
process, and learning and growth perspectives but will start with what is most
important. A balanced score card is when a corporation wishes to pinpoint the
variables obstructing its performance, a balanced scorecard is most helpful. It also
enables a business to evaluate an activity's success in relation to its strategic plans.
The balanced scorecard is managed by managers who are in charge of performance
in an organisation. When considering company objectives, the scorecard can offer
information about the company as a whole. The balanced scorecard approach can be
used by an organisation to conduct strategy mapping and determine where value is
added inside the company. A BSC can be used by a business to create strategic
objectives and activities. Focusing on a strategic issue important to the firm and
using both financial and non-financial data to develop plans are two of a balanced
scorecard's essential characteristics. A balanced scorecard (BSC) is a visual tool used
to measure the effectiveness of an activity against the strategic plans of a company.
A key premise of the balanced scorecard approach is that the financial accounting
metrics companies traditionally follow to monitor their strategic goals. The balance
score card should be used when a company is trying to have a competitive
advantage. This can be used by managers.
The balance score card has four parts
How do customers view us?
How do we create value?
What core competencies do we need?
How do our shareholders view us?
How customers view us is very important to me on the Balance Score card it is very
important to know how a client or a prospective client will view you as a company. The
client has what is called word of mouth so if a client feels that a company is not a
good company , they can begin to tell people this can hurt profits. So doing like
surveys can help like in Market Research to assist with knowing what the client thinks.
Then you can find your target audience and go from there to make changes where
needed. A Balanced Scorecard is a strategic performance management tool which
organizations use that generally consists of three components. It assists organizations set
strategic goals, develop a metrics and key performance indicators that will allow the
organization to form a strategic action plan to would ultimately deliver its strategic goals.
Possible one of the better tools used in businesses, Balanced Scorecards are created and
are the responsibility of manager/s or a management firm. It is the idea of grasping
four perspectives to strengthen the organization. Those four perspectives are financial,
customer, learning/growth, and internal processes. For the BSC to be successful, there
must be a link or bond between these perspectives. The financial perspective is what
the organization wants overall. The gain of profit or revenue, the setting of the action
goal and the key performance indicators. The customer perspective is the goals or
relationship you want with the consumer. If there is a new product launch or there is a
targeted consumer that interests the business. This would be beneficial to the
organization by making metrics, goals and ideas a priority. The internal processes will
give the organization input on what it need to be good at. The areas that it needs to
be focused on to deliver and satisfy the consumer and maximize quality results. The
learning and growth perspective is the investment that the organization may have on its
staff. The impact they bring to the organization. The skills and qualifications that can be
beneficial. The culture of the organization. The leadership and structure of the
organization. The BSC can be different in different organizations. If the organization focus
was more environmentally friendly, then the scorecard would have and additional focus.
If the organization were to focus on government agencies the scorecard change. Not all
will be the same, but it is important that the scorecard maintains a relationship. The
term balanced scorecard (BSC) refers to a strategic management performance metric
used to identify and improve various internal business functions and their resulting
external outcomes. Used to measure and provide feedback to organizations, balanced
scorecards are common among companies in the United States, the United Kingdom,
Japan, and Europe. Data collection is crucial to providing quantitative results as
managers and executives gather and interpret the information. Company personnel can
use this information to make better decisions for the future of their organizations.
• A balanced scorecard is a performance metric used to identify, improve, and
control a business's various functions and resulting outcomes.
• The concept of BSCs was first introduced in 1992 by David Norton and
Robert Kaplan, who took previous metric performance measures and adapted
them to include nonfinancial information.
• BSCs were originally developed for for-profit companies but were later
adapted for use by non-profits and government agencies.
• The balanced scorecard involves measuring four main aspects of a business:
Learning and growth, business processes, customers, and finance.
• BSCs allow companies to pool information in a single report, to provide
information on service and quality in addition to financial performance, and to
help improve efficiencies.
Working in an environment in which a monthly balanced scorecard is utilized to
share among the internal employees the business vision and strategy for our sales.
The scorecard is the most useful tool that supports the strategic impact objectives
and budgets. The vision strategy could be broken down to financial, customer,
internal processes, and learning growth. It is used as an internal view to improve
business outcome for their external customers as the result. For example, the
scorecard is a performance metric used as a strategy created by chief financial
manager and analytic team within my company. With in the company the scorecard
is utilized specifically to justify employee job and sales performance metrics. The
balanced scorecard will follow the vision of the company and focal point showing
the strategic metric goals. The sales managers take those results and budget forecast
for the next fiscal period, as well adjust the weakness levels not achieved. nn Not one
scorecard is the same from company to company and should differ based on the
organization’s strategies and objectives. For example, a key performance metric
would not match at McDonald’s drive-thru window operations versus direst sales
representative. It provides the example that each company strategic metrics need to
reflect customer experience and operations objectives. Also consider that justifying an
employee head count, execute strategies, and improve the organizations performance
has a purpose. Traditional performance measures for companies worked well for
years when it came to tracking financial metrics like earnings per share and return
on investment. In today's era of innovation and digital transformation, those financial
metrics do not illustrate how a company is focused on continuous improvement and
innovation and is insufficient in measuring their long-term sustainable success.
A balanced scorecard is used by a company that is wanting a balanced presentation
of how they are performing not only from a financial perspective but also
operationally. These operational measurements include things like customer
satisfaction, process enhancements, and strategic priorities for innovation to provide
insights on how the company is driving for future financial success. The financial
measures will display the outcomes of this focus. This approach is most useful for
any company that has established a solid business and is aware that the financial
metrics that got them to where they are will not take them to where they want to
be. They need operational focus and attention to drive their future financial
expectations. The management team should be responsible and accountable for the
goals and objectives tracked on their balanced scorecard. Younger companies will
have more focus on the financial aspects as they grow the business and ensure they
are creating free cash flow to be able to invest in the company for future growth.
Mature companies will have more focus on the operational and strategic components
of the scorecard, as they will have emphasis on what is a priority to have attention
to drive for future growth and financial goals. The balanced scorecard (BSC) is a
strategic planning and management system. Organizations use BSCs to:
• Communicate what they are trying to accomplish
• Align the day-to-day work that everyone is doing with strategy
• Prioritize projects, products, and services
• Measure and monitor progress toward strategic targets
The name “balanced scorecard” comes from the idea of looking at strategic measures
in addition to traditional financial measures to get a more “balanced” view of
performance. The balanced scorecard involves measuring four main aspects of a
business: Learning and growth, business processes, customers, and finance. The
balanced scorecard is a strategic planning and management system that organizations
use to focus on strategy and improve performance.
Specific reasons that a company would use a Balanced Scorecard might include:
Communicating the business vision and strategy. Share objectives that support the
business's vision and strategy. Show how these strategic objectives impact long-term
goals and budgets.
If this business is a nonprofit or government organization, reporting is usually
handled by the Chief Financial Officer. It requires an involved exercise and the
necessary expertise to do it properly. Balanced Scorecard is typically started by
senior leaders. A company's balanced scorecard differs from company to company
because it is based on and supports each company's strategy. Since each company's
strategy is different, their balanced scorecards differ.
A balanced scorecard is a strategy implementation tool that draws from multiple
internal and external performances. Managers are would be in charge of creating a
scorecard. A balanced scorecard helps managers approach balanced financial and
strategic goals. This helps managers to achieve their objectives more effectively. A
scorecard is needed when a company is trying to assess its performance in a more
strategic and accurate way. The scorecard allows the company to view its
shortcomings from a more holistic company perspective. The balanced scorecard
allows managers to communicate and link strategic vision to responsible parties,
translate the vision into a measurable operational goal, design and plan business
processes, and implement feedback and tools to change and adapt strategic goals.
Some companies would not benefit from this that are trying to do strategy
formulation instead of strategy implementation. The balanced scorecard is only if the
company has already established a competitive advantage. If the company has not
formulated a strategy to enhance or sustain competitive advantage, then the scorecard
will not be effective. Also, if the managers are not capable of providing data and
doing the work, a balanced scorecard will not be a good choice. When considering
company’s objectives, the scorecard can offer information about the company as a
whole. The term balanced scorecard (BSC) refers to a strategic management
performance metric used to identify and improve various internal business functions
and their resulting external outcomes. When a corporation wishes to pinpoint the
variables obstructing its performance, a balanced scorecard is most helpful. It also
enables a business to evaluate an activity's success in relation to its strategic plans.
The balanced scorecard is managed by managers who are in charge of performance
in an organization. Used to measure and provide feedback to organizations, balanced
scorecards are common among companies. A very strong framework is needed to
communicate and build strategy. BSCs were originally meant for for-profit companies
but were later adapted for nonprofit organizations and government agencies. It is
meant to measure the intellectual capital of a company, such as training, skills,
knowledge, and any other proprietary information that gives it a competitive
advantage in the market. The balanced scorecard model reinforces good behavior in
an organization. There are many benefits to using a balanced scorecard. For instance,
the BSC allows businesses to pool together information and data into a single report
rather than having to deal with multiple tools. This allows management to save time,
money, and resources when they need to execute reviews to improve procedures and
operations. Corporations may use internal methods to develop scorecards. They may
conduct customer service surveys to identify the successes and failures of their
products and services or they may hire external firms to do the work for them. A
Balanced Scorecard would be most useful to companies that have multiple divisions,
large corporations and franchises, however, even small businesses can benefit from
the Balanced Scorecard. Executives should be the first to implement the Balanced
Scorecard, then having divisional managers start doing them monthly, with the
executive officers doing them quarterly. This would be a good thing for a board of
directors to see. Being that the Balanced Scorecard is a metric to balance both
financial and strategic goals, and to help pull in internal and external performance
metrics, any company small or large could benefit if they would like to reach a
competitive advantage.Say you are a small home grown business (sole proprietor,
partnership or an LLC). You would not have shareholders, so knowing how
shareholders view you would not be apart of the scorecard. For the most part, how
the customers view you, how do you create value and what core competencies do
you need, these are all things that any company big or small company needs to look
at if they are going to grow and be profitable. A balance scorecard is a performance
metric used in statistic management to identify and improve various internal functions
of a business and their resulting external outcomes. A scorecard would be useful in
a business by ensuring that companies are measuring what actually matters and it
also show how strategic objectives impact long term goals and budgets. I would
think that a manager would be the one in charge of the balance scorecard because
the scorecard lists financial goals, customer goals, internal business goals and
innovation goals. So, you would not just want anyone to have all that kind of
information, they might use that against the company, so you need someone with
authority to keep track of all that information. Every company would be different
since every balance scorecard is different. like a large company might find using
balance scorecard difficult but a small company would find it easy, and this is
because with large amounts of data complexity in managing the balance scorecard
will increase. I know before this class I have never heard of balance scorecards, so
this is very interesting to me. A balanced scorecard is a a way that an organization
can plan and manage systems used to bring into line the business actions to the
vision and strategic of the organization. It also helps improve their strategic plans to
better the organization. The scorecard provides the company with a way to realize
their inadequacy from a more viewable approach. It helps them create more realistic
and strategically placed goals to help with their objectives. It also helps them target
any issues within the organization and tighten up those issues for the betterment of
the business. Unfortunately, the scorecards can sometimes be used for an organization
but not all organization can use it. The scorecard needs to be personalized for said
organization also it needs to match the organization leadership. It gets complicated if
the leader of the organization does not know the goals and perceptive of the
business. Balancing the scorecards takes time and dedications to understand the ins
and outs of the organization especially since it requires a lot of report information
from both the leaders and specific colleagues . A balanced scorecard is a strategy
implementation tool that draws from multiple internal and external performances.
Managers are would be in charge of creating a scorecard. A balanced scorecard
helps managers approach balanced financial and strategic goals .This helps managers
to achieve their objectives more effectively. nn A scorecard is needed when a company
is trying to assess its performance in a more strategic and accurate way. The
scorecard allows the company to view its shortcomings from a more holistic
company perspective. The balanced scorecard allows managers to communicate and
link strategic vision to responsible parties, translate the vision into a measurable
operational goal, design and plan business processes, and implement feedback and
tools to change and adapt strategic goals . Some companies would not benefit from
this that are trying to do strategy formulation instead of strategy implementation. The
balanced scorecard is only if the company has already established a competitive
advantage. If the company has not formulated a strategy to enhance or sustain
competitive advantage, then the scorecard will not be effective. Also, if the managers
are not capable of providing data and doing the work, a balanced scorecard will not
be a good choice. Value chains were introduced by Michael Porter back in 1985 .
Since then, value chains have been used by many organizations in the United States
and abroad. Value chains revolutionized strategic planning as it forced managers and
leaders to look at processes across different activities rather than looking at
department and divisions performance. Porter wrote that each industry has common
activities that they execute to transform inputs into outputs for customers. Porter
further separated the activities into primary activities and secondary activities. nn
So, what does that mean? Simply put, value chains allow managers to identify their
business activities, which then are analyzed and made unique to reduce costs and
increase differentiation. The more unique a value chain is, the harder it is for
competitors to imitate them. For an example, take a look at Walmart’s value chain.
Walmart identified their suppliers, their distribution centers, the physical store, and
their shoppers as their focus of their value chain. Walmart had already identified
their goals and objectives, and additionally, had a good overarching strategic plan
and business plan. One of their objectives is to ensure that the merchandise
replenishment cycle is not over 48 hours in length. That means that if they run out
of an item, or a customer is looking for an item that the store does not have,
Walmart will not take more than 48 hours to make it available at a specific store.
This is a big deal for an organization this size! nn
Their value chain, then, had to be planned in such way that each activity could
complement each other. This is called fit, and the more fit value chains have, the
harder it is for any businesses to copy them and the more efficiencies can be
gained. By utilizing the identified support systems, Walmart is able to reach back to
their suppliers and warehouses promptly. By having a fully integrated supply chain,
they can ensure that items can be transported from the suppliers to the nearest
warehouse of the requesting store. Then, Walmart can truck the item to a specific
store within 48 hours, thus meeting their objective. This practice decreases costs by
carefully planning warehouses in locations that will never be more than a 48 hour
drive from any of their stores. They also partner with suppliers who can quickly and
accurately deliver their items to warehouses at a cost that is acceptable to maintain
their low cost provider strategic posture. As stated above, value chains have been
around since 1985, which means, current business trends must be taken into
consideration. According to an article written for Harvard Business Review, the
increased use of social media has a direct effect on how business can use value
chains in the future .Value chains are based on solid business activities conducted by
businesses. Customers can either select a product that is mass-produced, or they can
select a product that is uniquely made (think artisan in nature). The value chain
model will be a bit more challenging to implement when customers use social media
to procure something based on their specifications. By the way, the ability for
customers to ask for a preferred configuration of a product is rising and social
media is often credited for allowing this type of business model to be available to
everyone. This business model is difficult to plan for as it becomes more of a
“pull” model of business where customers have a direct input on how they want
their product or service delivered to them. I am not fully sold on the idea that
value chains cannot be used in the social media era. My opinion is that the model
has the flexibility to add or remove support systems as needed by a business. It also
has a technology feature in it. With proper planning, value chains can be helpful for
businesses that chose to do business through social media mediums. At the end of
the day, each business has a number of inputs that they process to create an output
for their customers. Those are the main ingredients used in value chains. The
Balanced Scorecard is a management system that targets translating an organization's
strategic goals into a set of organizational performance objectives, that in turn are
measured, monitored, and sometimes changed if necessary to make sure goals are
met. A Balanced Scorecard would be most useful for a company to communicate the
business vision and strategy. It helps organizations design key performance indicators
which are called KPI's for their various strategic objectives. I would like to believe
that the Chief Financial Officer or the top executives of the company would be in
charge of creating the Balanced Scorecard. A company's balanced scorecard can
differ from company to company because it is based on and supports each
company's strategy. Since each company strategy is different, that makes their
balanced scorecards differ. Using a balanced scorecard approach can be more
beneficial for some companies rather than others and that is because of its
advantages and disadvantages. A few advantages would be that the balance scorecard
brings structure to business strategy, makes communication easier, and facilitates
better alignment. Disadvantages would be that a lot of data is required and it can
get complicated. To explain when a balanced scorecard would be most useful you
must first understand what the scorecard’s purpose is, the balanced scorecard is an
overview of the organizations strategic plan. This scorecard provides the guidance
and objectives of the company’s initiatives and goals that align with their vision and
strategy. The balance scorecard would be most useful to strategically improve an
organizations competitive advantage in new or existing marketplaces. The balance
scorecard will be devolved and maintained by the manager that oversees performance
within an organization. Though different aspects of the scorecard are more beneficial
to some organizations rather than others the guiding concepts and tool can be
applied to all companies. The way a scorecard is utilized is what makes it more
beneficial from organization to organization and can change each year depending on
what goals are trying to be achieved. Certain companies are trying to focus on
specific aspects within the scorecard but will still utilize all parts to gather
information needed to implement strategic plans. The benefits of utilizing the
balances scorecard are derivative of the actions of an organization, though one time
or another an organization might look to develop a strategic plan that is similar to
another organizations the aspects within the scorecard will differ between
organizations. I would have to say that due to the complexity of different
organizations that the benefits of different aspects of the scorecard are not more
beneficial to one organization over the other.
