Balanced Score cards
Prepared by: Wissam El Abyad
School: Suliman Olayan School of Business
Class: EMBA 2004
Implication of Balanced Scorecards in Audit Services CONTENT
A. Balanced Scorecards
B. Key Area of The Balanced Scorecard
1. Learning Growth and Innovation
2. Business Process
3. Customer Service
4. Financial Performance
C. Advantages of Using Balanced Scorecards
D. Risks Associated with the Balanced Scorecards
E. Deployment of the Balanced Scorecards
1. Change Management
2. Deployment the Balanced Scorecards as Pilot Project
3. Balanced Scorecards Measurement Processes
4. Application of BSC in the Audit Service
F. Application of the BSC in the Audit Service
G. Conclusion
H. References
A. Balanced Scorecard
The balance score cards is a new management approach and strategic process that enables management to turn into action and clarify the vision and tactic of the company. This approach was developed in the early of 1990 's by Drs. Robert Kaplan (Harvard Business School) and David Nortan after analyzing the elusiveness and weaknesses of the previous management approach. Companies start with a vision and build strategy and a mission statement to achieve certain goals. Accordingly, each activity of the business process needs to be analyzed in order to evaluate the overall performance of the company. The balanced score cards approach offers a comprehensible recommendation as to what the companies should assess in order to poise a financial perspective.
This new approach is a continuous cyclical process through out the value chain activities of the company. It is not limited to the internal processes only, but also it involves the external outcomes. Therefore, its task is not directly concerned about the mission of the organization, since it delivers information to managers for guiding their decisions. It allocates comment around both internal business processes and external outcomes in
School: Suliman Olayan School of Business
Class: EMBA 2004
Implication of Balanced Scorecards in Audit Services CONTENT
A. Balanced Scorecards
B. Key Area of The Balanced Scorecard
1. Learning Growth and Innovation
2. Business Process
3. Customer Service
4. Financial Performance
C. Advantages of Using Balanced Scorecards
D. Risks Associated with the Balanced Scorecards
E. Deployment of the Balanced Scorecards
1. Change Management
2. Deployment the Balanced Scorecards as Pilot Project
3. Balanced Scorecards Measurement Processes
4. Application of BSC in the Audit Service
F. Application of the BSC in the Audit Service
G. Conclusion
H. References
A. Balanced Scorecard
The balance score cards is a new management approach and strategic process that enables management to turn into action and clarify the vision and tactic of the company. This approach was developed in the early of 1990 's by Drs. Robert Kaplan (Harvard Business School) and David Nortan after analyzing the elusiveness and weaknesses of the previous management approach. Companies start with a vision and build strategy and a mission statement to achieve certain goals. Accordingly, each activity of the business process needs to be analyzed in order to evaluate the overall performance of the company. The balanced score cards approach offers a comprehensible recommendation as to what the companies should assess in order to poise a financial perspective.
This new approach is a continuous cyclical process through out the value chain activities of the company. It is not limited to the internal processes only, but also it involves the external outcomes. Therefore, its task is not directly concerned about the mission of the organization, since it delivers information to managers for guiding their decisions. It allocates comment around both internal business processes and external outcomes in
References: HR Magazine "February 2004" Competing in Service Economy, Gustaffson Jonson, 2004 Soul Of Service, Leonard Berry Customer Value News Letter "May 1999" Becker Conviser CPA Review "Business 2004" Becker Conviser CPA Review "Audit 2004"