An examination of the balanced scorecard system and how it helps organizations bridge the information gaps within them.
Written in 2002; 840 words; 3 sources; MLA; $ 29.95
Paper Summary:
A discussion of the balanced scorecard and how it benefits organizations. The paper details how the balanced scorecard works and includes examples of how it has been implemented in several companies. It details the benefits for the managers, employees, human resource department, process control, flow of information and more. The scorecard data gives the upper management level enough reasons to endorse "longer cycle time", where the human resource department could find more appropriate methods to find qualified candidate for each position. This certainly gains more productivity of the employees.
From the Paper:
"Balanced Scorecard is a system that combines traditional financial measures and non-financial measures to make the most of information and research result to fill the information gap between departments in an organization. The system also enables managers to design and monitor series of effective processes in the whole organization to increase the business performance. At first, there was an immediate need for a new integrated system that facilitates managers to build short and long term company progress plan. The existing system either leaned on a sole system approach on one variable or failed to incorporate feedback to the performance improvement. It triggered the development of a system that differs from the traditional measurement. Robert Kaplan and David Norton started the project in the early 1990s. "
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