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Write a short statement giving your opinions on the usefulness and/or effectiveness of relying on a...

Write a short statement giving your opinions on the usefulness and/or effectiveness of relying on a Balanced Scorecard for strategic management of an organisation. It is expected that your project will demonstrate your understanding of the objectives of implementing and use of a Balanced Scorecard

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Answer #1

Balance Scorecard is an effective tool for strategic management of an organisation. It presents four perspectives:

a.Financial Perspective

b. Customer Perspective

c. Internal Business Perspective

d. Learning and Growth Perspective

Overall Balance Scorecard provides an all round view of the Business and can be used by Top Management for holistic development.

It can help to achieve:

a. Financial Objectives

b. Best in class Customer Service

c. Employee growth and empowerment

d. Learning and enhancement

e. Increased efficiency, effectiveness and economy of operations.

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