Putting the Balanced Scorecard to Work

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Putting the Balanced Scorecard to Work

By | November 2012
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“Putting the Balanced Scorecard to Work”
BUSINESS 5243
Advanced Managerial Accounting
October 2, 2012

Balanced Scorecard 1
Identification of Article
Robert Kaplan and David Norton, “Putting the Balanced Scorecard to Work,” Harvard Business Review OnPoint, 2000.
Summary/Purpose of the Research
The purpose of the research from the article “Putting the Balanced Scorecard to Work” was to show how different organizations from different sectors applied the scorecard in their strategic planning. All three companies discussed their challenges during the transformation from using a traditional financial measurement to encompassing a broader scope for a more balanced approach. All three companies relayed the importance of developing a vision first before trying to implement the scorecard. Each company looked at their current internal processes and how they made changes and had to shift their way of thinking. The article describes how the success of using a balanced scorecard is just what it states “balanced”. For this type of approach to be successful many organizations already understand the financial measurements but now have to shift the emphasis towards the customer. The research that has been done in regards to using a scorecard show that the tool can be used in many different ways and still be successful. For instance, with Apple the scorecard thus far has been used as a planning device. On the other hand, the scorecard helped Rockwater (a company formed due to a merger) focus on process changes and vision in order to become a leader in the engineering industry. The key to the scorecards success lies in how it forces organizations to look at their processes differently and drive change within. Findings of the Research

The findings from this articles show how organizations can use the “balanced scorecard” for performance measurement and affect the behavior of management and associates. Businesses Balanced...

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