Management, Ch. 16: Control Systems & Quality Management: Techniques for Enhancing Organizational Effectiveness
Planning and Measuring Performance
Review the Example and Practice sections of the Balanced Scorecard Module to practice reading and evaluating the information it presents.
Complete the Assignment section of the Balanced Scorecard Module to evaluate the performance of the organization against established standards. Complete the following:
- Identify the performance gaps.
- Recommend actions to reduce performance gaps.
Note. The Balanced Scorecard Module will give you an option to save your assignment in a document on your desktop.
During this activity, you learn what a balanced scorecard is, the information it provides, and how to best utilize this information. After viewing an example, you will have an opportunity to practice identifying gaps. For your graded assignment, you will identify gaps and make appropriate recommendations.
What is a balanced scorecard?
At its core, the balanced scorecard is a tool an organization can use to measure its performance. Unlike other tools that may focus just on financial measures, for example, the balanced scorecard takes many segments of the organization into account. This creates a more holistic view of the organization’s performance without focusing too heavily on any one set of controls. The balanced scorecard generally looks at four aspects of company performance: financial, customer, internal processes, and people/innovation/growth assets. When using a balanced scorecard, a manager will set goals in each of these four areas and measure the organization’s process against these goals.