The Components Of The Balanced Scorecard Performance Management System

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Describe the basic control process.
According to our textbook, “Control is a regulatory process of establishing standards to achieve organizational goals, comparing actual performance to standards, and taking corrective action when necessary to restore performance to those standards. Control is achieved when behavior and work procedures conform to standards and when company goals are accomplished as control can also be used in preventive forms (Williams, 2016, p. 335)”

More than ever before companies (large and small) are paying great attention to performance metrics and seeking to "control" both strategic directions, tactical creativity, and operational accomplishment.
In your opinion, as well as the opinions of experts that have written
…show more content…
Explain, in detail, how the Balanced Scorecard method works, what you perceive to be the strengths as well as weaknesses in its use, and how it fits into current managerial …show more content…
The customer perspective, the internal perspective or total quality management and lastly the innovation and learning perspective considering the waste and pollution (Williams, 2016, p. 344)”. “The balanced scorecard is a measurement of organizational performance in four equally important areas: finances, customers, internal operations, and innovation and learning (Williams, 2016, p. 343)” The balance scorecards advantages are it provides accountability to each level of managers within an organization to set goals and measure performance. Suboptimization is reduced, and performance does not decrease when performance is increasing in another part of the organization. The balancing required with the balanced scorecard could be a weakness within itself as if a need is seen in one quadrant and too much is taken from another quadrant the organization can be thrown out of balance (Williams, 2016, p. 344). The balanced scorecard gives a manager an overall perspective of where the company is thriving and where improvements could be made; however, management needs to be cautious of removing resources from one quadrant to satisfy another because it may cause significant complications with the manner in which they conduct their traditional business. “The balanced scorecard is a strategic planning and management

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