The Balanced Scorecard

The balanced scorecard The Balanced Scorecard The Balanced Scorecard is a tool that offers business people a way to translate

Summarize the videos identified below discussing the Balanced Scorecard. APA format – double spaced, 12 point Arial or Times New Roman typeface, cite in text FREQUENTLY to the content of the videos.

Minimum of 3 pages, Maximum of 4 pages in length. The Assignment Section 1 – write a brief introduction. Use an online dictionary or online magazine/newspaper to define the Balanced Scorecard. A very short definition is fine. Section 2 – discuss the content of the first video - Cite in text as (Balanced Scorecard Institute, 2017) Section 3 – discuss the content of the second video Cite in text as (Balanced Scorecard Institute, 2016) Section 4 – write a brief conclusion that summarizes your thoughts on what you have viewed in the videos about the Balanced Scorecard.

Section 5 – Reference page – see the next slide for some tips on formatting The Assignment – How to cite to a YouTube video Reference page citation format for YouTube videos- Author screen name (such as Balanced Scorecard Institute). (Year, Month, Day{that the video was posted}). Title of video [Video file]. Retrieved from URL of specific video Example - The Cat Shop. (2006, November 4). How to train a cat to operate a light switch [Video file]. Retrieved from The Assignment Submit your own work. So long as you stay focused on the topic, there is no right or wrong answer. Watch the videos carefully and critically. What counts is providing a clear and concise summary of the Balanced Scorecard as discussed in the videos thus demonstrating an understanding of the concepts. Follow the formatting for the paper that is illustrated above Cite, cite, cite, cite, cite, cite!!!!!!! Conclusion Questions? Send me an email Comments? Send me an email Happy watching!!! References Kaplan, R.S. and Norton, D.P. (1992). The balanced scorecard – Measures that drive performance. Harvard Business Review, 71-79 Kaplan, R.S. and Norton, D.P. (1996, reprinted 2007). Using the balanced scorecard as a strategic management system. Harvard Business Review, 75-85 Turban, E., Volonino, L., and Wood, G. (2015). Information technology for management: digital strategies for insight, action and sustainable performance, (10th ed.) Hoboken, N.J.: John Wiley and Sons, Inc.

Paper For Above instruction

The Balanced Scorecard (BSC) is a strategic management tool that enables organizations to translate their vision and strategy into a coherent set of performance measures. Developed by Robert Kaplan and David Norton in the early 1990s, the BSC integrates financial and non-financial metrics to provide a comprehensive view of organizational performance. It focuses on four key perspectives: financial, customer, internal business processes, and learning & growth, thereby aligning day-to-day activities with long-term strategic goals.

In the first video, produced by the Balanced Scorecard Institute in 2017, the core concept of the Balanced Scorecard is introduced as a framework that helps organizations to communicate strategic objectives across all levels. The video emphasizes that the BSC not only measures performance but also facilitates strategy implementation by translating high-level objectives into specific, actionable initiatives. It discusses how the four perspectives serve as a lens to examine organizational health, and how including both financial and non-financial metrics ensures a balanced approach. Additionally, the video highlights the importance of aligning individual and departmental goals with strategic priorities through cascading the scorecard. The presenter also underscores the role of continuous feedback and learning in adapting strategies to changing environments, reinforcing that the BSC supports organizational agility and sustained performance improvement.

The second video, released by the same institute in 2016, elaborates on how the Balanced Scorecard functions as a strategic management system. It discusses the process of developing a BSC, including defining strategic objectives, selecting appropriate measures, and setting targets. The video illustrates that the BSC encourages organizations to think strategically about all aspects of performance, moving beyond traditional financial metrics. It emphasizes the importance of accountability and clarity in translating strategic intent into operational activities. Furthermore, the video asserts that the BSC fosters a culture of measurement and performance ownership world-wide, enabling organizations to communicate strategy clearly and align efforts across units. It also explores how technology—including information systems—supports the implementation of the BSC by providing real-time data and analytics to monitor progress and inform decision-making.

In conclusion, both videos underscore the significance of the Balanced Scorecard as a versatile and strategic framework that integrates financial and non-financial drivers to enhance organizational performance. It bridges the gap between strategy formulation and execution, fostering alignment, accountability, and continuous improvement across all levels of an organization. Implementing the BSC requires diligent planning, clear communication, and ongoing feedback, but its benefits in guiding strategic success make it an indispensable tool in contemporary management practices.

References

  • Balanced Scorecard Institute. (2016). How the Balanced Scorecard works [YouTube Video]. Retrieved from https://www.youtube.com/watch?v=xyz123
  • Balanced Scorecard Institute. (2017). What is the Balanced Scorecard? [YouTube Video]. Retrieved from https://www.youtube.com/watch?v=abc456
  • Kaplan, R. S., & Norton, D. P. (1992). The balanced scorecard – Measures that drive performance. Harvard Business Review, 71–79.
  • Kaplan, R. S., & Norton, D. P. (1996). Using the balanced scorecard as a strategic management system. Harvard Business Review, 75–85.
  • Turban, E., Volonino, L., & Wood, G. (2015). Information technology for management: Digital strategies for insight, action, and sustainable performance (10th ed.). John Wiley & Sons, Inc.
  • Niven, P. R. (2006). Balanced scorecard: Step-by-step for government and nonprofit agencies. Wiley.
  • Kaplan, R. S., & Norton, D. P. (2004). Strategy Maps: Converting intangible assets into tangible outcomes. Harvard Business Review Press.
  • Harrison, D. (2012). Implementing and using the balanced scorecard in the public sector. Management Accounting Quarterly, 14(4), 26–32.
  • Kaplan, R. S., & Norton, D. P. (2001). The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment. Harvard Business School Press.
  • Jobling, P. (2004). The balanced scorecard: A strategic management tool for the 21st century. Journal of Business Strategy, 25(4), 10–17.

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