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Definition of Balanced Scorecard

Balanced Scorecard concept will then be abbreviated BSC . BSC is a strategic management approach to that developed by Drs.Robert Kaplan ( Harvard Business School ) and David Norton in the early 1990s . BSC is derived from two words namely the balanced ( balanced ) and scorecard ( scorecard ) . Balanced ( balanced ) means that there is a balance between financial performance and non – financial , short-term performance and long-term performance , the performance of the internal and external performance . While the scorecard ( score card ) card is used to record a person’s performance score . Score cards also can be used to plan the score to be realized by a person in the future . BSC initially used to improve executive performance measurement system . Early use of executive performance is measured only in terms of finances . Later developed into the four broad perspective , which is then used to measure the performance of the organization as a whole . The four perspectives , namely fina

The use of Software Tools for Reporting Balanced Scorecard

It is important to recognize that the definition of the Balanced Scorecard is not a complex thing – usually no more than about 20 measures spread across a mix of financial and non-financial topics, and easily reported manually (on paper, or use a simple Office software). The process of collecting, reporting, and distributing Balanced Scorecard information can be labor-intensive and prone to procedural matters (eg, making all relevant persons to return information required by the date required). The simplest mechanism to use is to delegate this activity to an individual, and many Balanced Scorecards are reported via ad-hoc methods based on email, phone, and office software.

Integrating Business Management with Balanced Scorecard

Balanced Scorecard (BSC) is a strategic performance management tool – a semi-standard form of the report is structured and supported by proven design methods with automation tools that can be used by managers to monitor the implementation of activities by staff within their control and monitor the consequences arising from this action. Modern Balanced Scorecard thinking has evolved considerably since the initial idea proposed in the late 1980’s and early 1990’s, including the performance of the tools of modern management. Balanced Scorecard is significantly improved to be more flexible (in accordance with a range of organizations wider) and more effective (also design methods have evolved which makes it much easier to design and use).