mis r12

docx

School

St Pauls School, Covington *

*We aren’t endorsed by this school

Course

7878

Subject

Management

Date

Nov 24, 2024

Type

docx

Pages

Uploaded by dt48485

The article by Chavan (2009) balanced scorecard is a framework for managing strategic performance. They claim that the use of just conventional financial metrics is inadequate for judging an organization's success. They suggest a balanced scorecard instead, which analyzes performance in four areas (financial, customer, internal process, and learning and development) as well as the bottom line. The authors stress the need of coordinating strategic initiatives with the various BSC metrics (Chavan, 2009). Organizations may develop a coherent strategy that propels performance improvement by establishing defined goals and measurable KPIs within each viewpoint. They also stress the need of establishing a causal link between the metrics from various vantage points, so that improvements in one area might have a ripple effect elsewhere. The balanced scorecard is presented throughout this article as a useful tool for businesses to monitor and improve their performance in more than just monetary terms. The article by Lee, Costello & Lee (2021) effectiveness of management in hierarchical organizations using the balanced scorecard. They especially concentrate on how the balanced scorecard framework may be utilized to strengthen control mechanisms inside enterprises. According to the authors, businesses may better align their control procedures with their strategic objectives by using the balanced scorecard. Through the use of a balanced scorecard, businesses may develop a system of controls to keep track of performance and make sure all their moves are in accordance with their overarching plan. Communication and information exchange inside hierarchical companies are also highlighted in the text. The balanced scorecard is a tool for increasing organizational openness and responsibility by improving internal communication. In turn, this allows for fast feedback and remedial actions, improving the efficiency of control operations. Ingram and Kustra provide

advice on how businesses may enhance their control procedures by implementing and using the balanced scorecard. They stress the significance of an organizationally-wide, interdisciplinary strategy. The research concludes that the balanced scorecard framework has the ability to improve performance and strategy alignment in hierarchical companies by strengthening control mechanisms (Lee, Costello & Lee, 2021). The Balanced Scorecard framework will help me, as an IT professional, manage IT resources effectively by ensuring that the goals of both individuals and teams are in line with those of the business as a whole. As part of this process, we will build key performance indicators (KPIs) to track progress in areas including customer satisfaction, financial results, internal operations, and employee growth. My ability to effectively allocate IT resources and prioritize projects and activities based on their contribution to the organization's strategic objectives depends on my ability to manage and monitor these key performance indicators. With the use of the Balanced Scorecard, I'll be able to demonstrate IT's worth to key audiences, pinpoint problem areas, and make informed, evidence-based choices about how best to allocate limited resources (Lee, Costello & Lee, 2021). References Chavan, M. (2009). The balanced scorecard: A new challenge. Journal of Management Development. 28(5), 393-406. DOI: 10.1108/02621710910955930 Lee, S., Costello, F. J., & Lee, K. C. (2021). Hierarchical balanced scorecard-based organizational goals and the efficiency of controls processes. Journal of Business Research , 132 , 270-288.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

mis r12

Related Documents