Boston Lyric Opera Case for Management Control

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

Figure 1 (Kaplan & Norton, 2006) Table/ office/diagram/image is missing. Please download the Word chronicle to view it. LITTERATURE REVIEW Criticism The BSC is o ne of the most flourish performance contro! l mechanisms, in 1998 it was used by one shot 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 verify the murder of BSC programmes as time-consuming and ineffective. The scorecard is often maladjusted 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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