Short Instruction About Balanced Scorecard For MBA

MBA students need to understand what is the role of the introduction of the balanced scorecard for the development of a society. The essence of the balanced scorecard is in the formulation of the strategy in some perspectives, establishing the strategic objectives and the measurement of the level of achievement of given goals with the help of indicators. The word “Balanced” in the title of the methodology is the identical importance of all indicators. The balanced scorecard is projected in the entire organization by means of the development of the individual objectives in the framework of the already developed corporate strategies and promotes understanding of the workers of their place in the strategy of the company. 1. What is the use of the balanced scorecard? The offered attention only the financial indicators are hardly the full of State of the company, does not allow to establish the accurate forecast of its development.

And that’s why you have to even use non-financial indicators, which complement not only the financial indicators, but also in the logical link be with them. Accordingly the complex acquisition system of indicators use, i.e. the balanced scorecard. The BSC supplemented the system of financial parameters of already occurred past, as well as: referred to, where the growth of income; identifies which customers to secure growth and why; bring those key business processes on the day, which should improve the society allows you to make better the unique proposal to the consumer helps set investment and orient the work in this direction with the staff, develop the internal systems, corporate culture and climate of the society. So an any model of the development of the strategy can claim the fullness only in that case, if it contains the answers to the questions concerning various spheres of activity of the company. The activity of the company in the framework of four perspectives is considered in the formulation of the strategy due to the balanced scorecard: financial perspective; Customer perspective; Internal or Process perspective; Learning and growth perspective.

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