ADMS 1010 Lecture Notes - Lecture 7: Balanced Scorecard, Natural Capital, Continual Improvement Process

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Joel Marcus

Document Summary

The causal claim made by an author in the balanced scorecard is that executives are frustrated by the deficiencies of traditional performance measurement framework. They need an adjusted presentation of measures that permit them to see the organization from several points of view at the same time. The balanced scorecard incorporates financial measures that tell the consequences of moves effectively made. It also minimizes information overload by restricting the quantity of measures utilized. The balanced scorecard complements financial measures with three sets of operational measures doing with consumer loyalty, inner procedures, and the association"s capacity to learn and improve the exercises that drive future financial execution. Managers can make an adjusted scorecard by deciphering their organization"s technique and statements of purpose into particular objectives and measures (the balanced scorecard, p. 71). For example, executives at electronic circuits inc. established general goals for customer performance (the balanced scorecard, p. 73).