Balanced Scorecard for Banagas Essay Example | Topics and Well Written Essays - 4000 words

Balanced Scorecard for Banagas - Essay ExampleFrom this report it is clear thatBalanced Scorecard was created in 1992 by Robert S. Kaplan and David Norton. It is a method for measurement a troupes activities in terms of its vision and strategies giving managers a comprehensive view of the performance of a business. Generally, Balanced Scorecard can be characterized as a strategic management system that forces managers to focus on the important performance metrics that drive success. It balances a financial perspective with customer, internal process, and learnedness & growth perspective.As the report highlights Balanced Scorecard from a financial perspective measures reflecting financial performance, for example number of debtors, cash flow or return on investment. The financial performance of an organization is fundamental to its success. It should be noticed that the financial perspective of Balanced Scorecard usually refers to the estimation and evaluation of the figures reveal ed in the companys accounts (trying to locate the firms current performance) as they can analyzed and presented using the common financial analysis practices.From a Business execute Perspective, Balanced Scorecard measures the reflection of the performance of key business processes, for example the time spent prospecting, number of units that required rework or process cost.The evaluation of the firms strategy and aims as part of the specific area of Balanced Scorecard analysis and implementation has to be regarded as a challenge task.