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Ethics, Performance Measures, and the Balanced Scorecard (Example)

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The Balance Score Card Student’s Name Institution’s Name Implementation and benefits of a balanced scorecard Currently organizations’ managers recognize how performance is affected by measures but most often do not take measurement to be an essential part of their strategy. For example new strategies and operating systems may be introduced by management to achieve better performance but managers still continue to use the same financial indicators they have been using in the past. By doing this the managers fail in introducing measures of monitoring goals and processes and also fail in questioning whether or not the measures used before will be relevant to the measures. In every management process effective management should be an integral part. The balanced scorecard (BSC) developed by David Norton and Robert Kaplan helps to shifting the product mix to more standard and easy to produce products. In conclusion as Hannabarger (2007) suggest many companies that are focused in implementing local improvements programs like process engineering employee empowerment and total quality do not usually have a sense of integration. The balanced scorecard is able to serve as a focal point the efforts of the organization defining priorities to managers investors employees and also customers. By adopting the balanced scorecard EEC will have a benchmark against which it can evaluate all the new businesses and projects that it is planning to introduce. References Hannabarger C. Buchman R. & Economy P. (2007). Balanced scorecard strategy for dummies. Hoboken NJ: Wiley. Meyer M. W. (2002). Rethinking performance measurement: Beyond the balanced scorecard. Cambridge UK: Cambridge University Press. [...]

Order Description:

Your boss recently attended an accounting seminar at which the balanced scorecard was discussed. He has asked you the corporate business financial analyst. to prepare a presentation for the next manager’s meeting about the balanced scorecard and how (EEC) Edison Electric Company might adopt it. In your presentation, you should complete the following: • Make a recommendation of whether or not EEC should adopt the balanced scorecard. • If adopted, how might it improve the company?

Subject Area: Accounting

Document Type: Research Paper

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $20

Words 550

Pages 2

Completed in 1 day

Expert Tiana

Client Review

Great job!

Positive
08.03.2016

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