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How does use of the Balanced Scorecard management tool relate to Enterprise Resources Planning models used...

How does use of the Balanced Scorecard management tool relate to Enterprise Resources Planning models used by businesses with large scale integrated operations?

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Answer #1

Balance Scorecard is an important tool in Strategic Management. It helps in effectively managing the internal functions relating to a business and their resulting external outcomes. It is a type of performance matrix that has four perpectives:

a. Financial Perspective

b. Customer Perpective

c. Internal Business Process Perspective

d. Learning & Growth Perspective.

Use of the Balanced Scorecard management tool relate to Enterprise Resources Planning models used by businesses with large scale integrated operations in the follwing ways:

a. Accomplishing the Financial and Other Objectives

b. Aligning Decision Making with Day-to-Day work

c. Prioritizing the actions, projects, tasks etc

d.Monitoring Growth, Results and taking approprite actions against variances.

e. Providing best in class customer service.

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