Literature Review of Implementation of Balanced Scorecard

Of writ of execution of Balanced Scorecard - Literature review ExampleThis essay stresses that performance management can be described as a process by which supervisors tries to measure and control the performance of the employees. With this process, both the affect parties try to get a shared understanding of the goals and work expectations. This also facilitates exchange of performance feedbacks, valuate the performance results and at the same time identify the learning and development opportunities. This study however, principally concentrate on balanced scorecard as a performance measurement tool. Dechow enumerates that balanced scorecard is a key tool that assists a company in transforming the talent of people thereby enhancing their level of expertness and skills. This paper rmakes a conclusion that Some companies considers only the financial perspective in reviewing the performance of the firm, whereas rough companies takes a holistic approach and give importance to the f actors such as financial perspective, customer perspective, blueprint and learning perspective, internal business perspective. The study found that among the available forms of performance measurement like wide quality management (TQM), activity-based costing, benchmarking, balanced scorecard and capital budgeting, the most common one is balanced scorecard. However, subject differences in the methodologies of performance measurement in the not for profit making organizations were identified.