Transforming the balanced scorecard Coursework Example | Topics and Well Written Essays - 250 words

Transforming the balanced scorecard - Coursework Exampletion view in conspicuous assets as a source of competitory advantage as opposed to the view of the 19th century and early 20th-century firms (Kaplan and Norton 88).The Balanced Scorecard was introduced to provide a new framework for describing value-creating strategies that link tangible and intangible assets. It describes how to mobilize and combine intangible and tangible assets to develop differentiating customer-value offering and superior financial results. The program has helped over 200 executive teams. It allows the strategy to come forth from meetings and consultations with the senior executives. Then a general framework for describing and implementing the strategy known as the strategy map is developed. It creates a common and comprehensible point of propagation for the company (Kaplan and Norton 92).Apart from its industrial application, Balanced Scorecard has also been adopted by non-profit and government organiza tions (NPGOs), however, it faces the challenge of a strategy that has not been clearly defined. It is all-important(prenominal) for the class to note that the Balance Scorecard is not just about performance measurement. It has evolved to become the organizing framework, for a new strategic management system. Its adoption has been discover to deliver good result. The Balanced Scorecard provides a recipe to combine with what exists in the organization for long-term value creation. The following points will be in class strategic maps, other forms of performance measurement, Balanced Scorecard and NPGOs and beyond performance management (Kaplan and Norton