Boston Lyric Opera Case for Management Control

Graduation: 2011BALANCED SCORECARDCASE STUDY - BOSTON LYRIC OPERATable/graph/ diagram/image is missing. Please download the Word archive to placement it.ContentsTable of contents is missing. Please download the Word archive to ascertain it.LITTERATURE REVIEW Introduction The bear upon Scorecard is a strategic management tool that combines cardinal performance perspectives, acquiring a broad based portraying of performance (Kaplan/Norton, 1992). traditional pecuniary metrics (return on investment) customer-based metrics internal-operations metrics growth and information metrics The imagination of Strategy Maps emerged to supplement the BSC (Kaplan/Norton, 2004), establishing strategies that are submitd into numerical metrics in the BSC. The Cause and Effect Relationship The BSC represents the `cause-and-effect blood between an organisations long term strategic objectives and quantifiable KPIs (Key writ of execution Indicators) (Kaplan/Norton, 2006). It is practically difficult to focus on galore(postnominal) different measures, interpreted separately. Metrics drawn from a sticking strategy up to now work in tandem. Companies should concentrate on the internal and encyclopaedism & international ampere; growth perspectives, these actions will translate into enhance performance in customer and financial proceeds measures overdue to the cause-and-effect relationship (Kaplan/Norton, 2004).

Figure 1 (Kaplan & Norton, 2006) Table/ act/diagram/image is missing. Please download the Word history to view it. LITTERATURE REVIEW Criticism The BSC is one of the most expand performance! control mechanisms, in 1998 it was used by wheel 600 of the Fortune 1000 companies in the US and Europe (Linna/Seal, 2009). as yet its effectiveness and appropriateness is a good deal questioned. Often employees live the murder of BSC programmes as time-consuming and ineffective. The scorecard is often unbalanced well-favored to much weight to financial factors (Linna/Seal, 2009). Modified match Scorecards As a result of criticism, many organisations tack on a fifth perspective to the BSC. The fifth perspective often represents Sustainability, Technology (Internet Boom) or Risk Management (Banking Crisis). Reuters America for ensample introduced a BSC within... If you want to get a full essay, target it on our website: OrderCustomPaper.com

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