19 Aug In two different paragraph give your personal opinion to Nikki Th
In two different paragraph give your personal opinion to Nikki Thompson and Courtney Rollins
Nikki Thompson
A balanced scorecard is a performance metric utilized in strategic administration to recognize and advance several internal operations of an organization and their subsequent external outcomes (Kaplan & Norton, 2001). The balance scorecard is used to lead and manage the organization as it provides feedback’s of all the organization’s operations and comprehensive data which the management can use to make informed decisions. Data collection is critical to facilitating quantitative outcomes, as the data collected is understood by managers and directors, and utilized to make better decisions for the business. Balance scorecards are used to endorse good behaviors and operations within the organization; therefore, every employee is obliged to fill their activities and task hence linking it to the organization operations can be easy. This strategy ensures that positive behaviors that increase organization production are encouraged and the negative ones discouraged. This can be used as the performance appraisal tool in the organization.
References
Kaplan, R. S., & Norton, D. P. (2001). Transforming the balanced scorecard from performance measurement to strategic management: Part II. Accounting horizons, 15(2), 147-160.
Courtney Rollins
A balanced scorecard is a technique used by organizations to analyze and create strategies to achieve organizational goals by aligning strategies with performance measures (Dziak, 2018). The purpose of balanced scorecards is to set goals and review how the goals in the organization are being met using the performance measurement tool (Dziak, 2018). Balanced scorecards are used to lead and manage the organization’s workflow, communicate strategies, prioritize services, and monitor progress towards goals (Balance Scorecard Institute, 2017). This technique connects strategic level planning and operational objectives as a management tool. An organization’s effectiveness is directly influenced by its operational and performance measurement system. The balanced scorecard allows management to capture and focus on areas for improvement as well as develop approaches to enhance individual performance (Kaplan & Norton, 1992). Balance scorecards review standards and give the necessary information needed for all individuals to perform effectively and meet organizational goals for optimal outcomes.
References:
Balance Scorecard Institue. (2017). Balance scorecard basics. Retrieved fromhttps://www.balancedscorecard.org/BSC-Basics/About-the-Balanced-Scorecard
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