Balanced Scorecard Case Study:
Balanced scorecard is the system of management, which appeared in the 1990-ies. The aim of the system is to create more direct plans of the development and improvement of a company and ensure their realization. The system is broader than the systems which measure the financial performance of the company. Balanced scorecard is the source of information about the inner processes in the organization and their outer effect for the business. It is far more difficult to win the leading place in the sector of the market only due to the constant investment into the physical activities and financial management. It is more important to mobilize the non-physical activities of the company if it wants to gain success. In the modern time of the serious competition and extreme rivalry on the market the process of the long-term development is the priority.
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It is important to organize wise strategic management, effective business processes, capital of the company, which are embodied in the knowledge and skills of the professional employees.
Moreover, the organization should learn to attract new and new customers, organize the work process reasonably encouraging investment, innovations, technologies and the introduction of the IT. The system of balanced scorecard appeared due to the intention of the businessmen to satisfy the expectations and interests of various groups: shareholders, clients, partners and creditors. In order to create a multidirectional policy of business management one should possess a complex system of the strategic targets and key indicators and a well balanced system of the strategic measurement.
Balanced scorecard is quite an effective system of management and it is important to know everything about it. When a student is asked to prepare a case study about it, he should pay attention to the general principles of the system and only then he will be able to describe the problem from all sides. In order to prepare a successful case study a student will have to spend time and investigate the reason and the character of the problem connected with balanced scorecard. After that one will need to present the analysis f the effect of the problem and the methods which will be useful to solve the problem well.
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