Week 12 – Balanced Scorecard
Students must support their discussion with at least 4 academically reviewed articles. (Wikipedia, Smallbusinesschron.com and other internet articles are not acceptable. Professor reviews the originality of all postings). Do not copy and paste.
Review at least 4 articles on Balanced Scorecard and complete the following activities:
1. Write annotated summary of each article. Use APA throughout.
2. As an IT professional, discuss how you will use Balanced Scorecard to manage IT resources efficiently.
Complete your main post no later than Friday of week 12 (11:59pm EST). Please note that initial post not completed on the due date will receive zero grade.
Read and respond to at least two (2) of your classmates no later than Saturday 11:59pm EST of week 12. Please note that secondary post not completed on the due date will receive zero grade.
Review posting/discussion requirements.
Please use APA throughout in your main post and responses to other posts.
Below are additional suggestions on how to respond to your classmates’ discussions:
· Ask a probing question, substantiated with additional background information, evidence or research.
· Share an insight from having read your colleagues’ postings, synthesizing the information to provide new perspectives.
· Offer and support an alternative perspective using readings from the classroom or from your own research.
· Validate an idea with your own experience and additional research.
· Make a suggestion based on additional evidence drawn from readings or after synthesizing multiple postings.
· Expand on your colleagues’ postings by providing additional insights or contrasting perspectives based on readings and evidence.
Need To Reply For this response on this discussion Below as well adding some points who has already posted the discussion on the topic
Reply:1( Ravikanth Akkanapally)
The Balanced Scorecard makes the essential objectives and key figures of an association together fittingly unmistakable. It assists with plotting and system execution. Shocking execution pointer structures are now and again astoundingly wide. They don’t understand what’s to a dumbfounding degree key to the collision.
Around the start of the 1990s, Robert S. Kaplan and David P. Norton made an examination out of 12 essential American affiliations. The objective was to pick how these affiliations measure their execution and what does not have every framework has. It was about the central subject of execution estimation. Despite remarkable things, the examination found that there are three key execution estimation issues:
The taking a gander at structures are incredibly mixed and bound. The key data is lost in the setting of the high number of estimations and complex check structures. Things are assessed in the operational district, yet there is no sensible, consolidated and essential data.
Most by a wide edge of the key figures are essentially considering budgetary perspectives, they at long last mirror the compensation. Unmistakable parts that are not plainly identified with cash are not considered. This proposes the structures of the affiliations are not reflected in key figures by any strategies.
The scorecard makes a structure, a tongue, to pass on a mission and watch. It utilizes estimations to illuminate dispenses move factors for present and future achievement. By irrefutably articulating the pined for happens unmistakably and secured execution drivers, the manager needs to change, past what various would think about conceivable, and conviction of pros over the association with entire rationale targets (Kaplan/Norton, 1996).
The Balanced Scorecard ought to stimulate the utilization of the structure in the relationship considering the way that the BSC makes unmistakable what is fundamental and what the going to be for all stars. You can utilize a not incredibly unpalatable Balanced Scorecard to make your structures known to all experts and less asking for to execute. Your managers ought to be guided by the execution markers of the Balanced Scorecard and after that supplement on the achievement of the affiliation.
Cascading the Balanced Scorecard to Build Organizational Alignment. (2015). Balanced Scorecard Step-By-Step, 199-219. doi: 10.1002/9781119205081.ch7
Hladchenko, M. (2015). Balanced Scorecard – a strategic management system of the higher education institution. International Journal of Educational Management, 29(2), 167-176. doi:10.1108/ijem-11-2013-0164
Zizlavsky, O. (2014). The Balanced Scorecard: Innovative Performance Measurement and Management Control System. Journal of technology management & innovation, 9(3), 210-222. doi:10.4067/s0718-27242014000300016
Biazzo, S., & Garengo, P. (2012). Performance Measurement with the Balanced Scorecard. SpringerBriefs in Business.doi:10.1007/978-3-642-24761-3
In the article, Balanced Scorecard is characterized as execution report utilized as an administration device to monitor those activities going ahead in an association with the point of keeping check of those activities while dissecting the conceivable outcomes (Hoque, 2014). As indicated by the article, Balanced Scorecard is significantly utilized for vital administration and operational execution. As a chief, Balanced Scorecard can be utilized as an essential device in assessing the execution of different units and the whole association demonstrating satisfactory data for administrative choices.
In another article, we are acquainted with the different attributes that characterize a Balanced Scorecard. As indicated by the creator, there are four essential properties of the execution instrument. One, it makes out of a blend of both budgetary and non-money related information and data. Also, Balanced Scorecard centers particularly around key plan of the association. At last, the instrument targets little quantity and scope of information to monitor (Hansen and Schaltegger, 2016). Every one of these properties shape the vital achievement part for directors in utilizing the execution report instrument in the arrangement of consequences of the assessment.
In the article, the writer fundamentally talks about the historical backdrop of Balanced Scorecard and the present insights of utilization in different organizations and associations. The principal occasion where the execution device was utilized was in 1987 (Nikolaou and Tsalis, 2013). It was made by Art Schneiderman at Analog Devices. This was alluded to as the Analog Balanced Scorecard. The change in competency prompted the progression of the simple device to the present age Balanced Scorecard. Supervisors have progressively favored the utilization of execution report instrument in key assessment The idea of the association activities. The key guide has upgraded the administrative accomplishment of such directors.
In the fourth article, the writer centers around the popularity of the Balanced Scorecard. Diagnostically, most organizations utilize the apparatus in execution monitoring and administration. In an examination led by Kurtzman in 1997, around 64% of organizations utilized Balanced Scorecard (Reefke and Trocchi, 2013). The rest of the rate that was not utilizing the device utilized another approach that was more like the balanced scorecard. As indicated by the article, Balanced Scorecard stays one of the broadly received and connected execution administration system.
As an IT director, a Balanced Scorecard is a critical instrument in its effective administration assets. It is imperative to record and break down IT data utilizing this sensitive device. This incorporates detailing the audit investigate working and task of the IT foundation and the related activities. An arrangement of activities ought to be produced to go about as a plan for monitoring and assessment. The data is recorded in the Balanced Scorecard for key mapping. The apparatus improves exactness and accommodation in the accompanying execution while getting bits of knowledge on the patterns. IT supervisors should utilize the device in vital administration and assessment of IT execution.
Hansen, E. G., & Schaltegger, S. (2016). The sustainability balanced scorecard: A systematic review of architectures. Journal of Business Ethics, 133(2), 193-221.
Hoque, Z. (2014). 20 years of studies on the balanced scorecard: trends, accomplishments, gaps and opportunities for future research. The British accounting review, 46(1), 33-59.
Nikolaou, I. E., & Tsalis, T. A. (2013). Development of a sustainable balanced scorecard framework. Ecological Indicators, 34, 76-86.
Reefke, H., & Trocchi, M. (2013). Balanced scorecard for sustainable supply chains: design and development guidelines. International Journal of Productivity and Performance Management, 62(8), 805-826.