In many cases, managers end up in trouble as they direct their focus exclusively on cost savings. Cost cutting is always emphasized, but other impacts, such as decreased quality, can be overlooked. These overlooked impacts can have a significant effect on the revenue and profitability of an organization. The balanced scorecard is a measure to assure that management is not exclusively driven by cost, but balanced with other measures that also can significantly influence the performance of an organization.
Using the module readings and the Argosy University online library resources, research balanced scorecard and its application.
Select a service industry organization of your choice. Complete the following for the selected organization:
Recommend at least two performance measures in each of the balanced scorecard categories.
Explain each of your recommendations.
Using these measures as examples, explain how use of the balanced scorecard can increase the economic value added within the organization.
Write your initial response in 4 5 paragraphs. Apply APA standards to citation of sources.
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Do the following when responding to your peers:
Read all posts from your peers.
Explain how their experiences differ from yours.
Provide substantive comments by contributing new, relevant information or quotes from course readings, Web sites, or other sources; building on the remarks or questions of others; or sharing practical examples of key concepts from your experiences, professional or personal.
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