Organization Balanced Scorecard Assignment Example | Topics and Well Written Essays - 2500 words

Organization Balanced Scorecard - Assignment Example re is revenue growth by proposing income generating projects, operation on the profit growth and ensuring determining the short term solvency of the company. These objectives are in line with the vision of the company as they ensure which is offering low prices to the consumers. The company makes sure that it capitalizes on the large market by selling its products at lower prices. The need for a balanced scorecard in order to determine whether the company is headed in the right direction in terms of profitability cannot be understated. Therefore, this is done by measuring each objective in the financial sector with a quantified target metric that is associated with it. This process has helped companies understand their position and the weak and strong areas in the organization. In this way, the priority of the objectives can be understood in the organization and therefore, it becomes easier for the management to understand which objective should be implemented first based on its impo rtance. Further, it shows how the different sectors of the company are performing in relation to the vision and the mission of the company. Traditionally most federal agencies measure their managerial presentation by mainly focusing on internal process performances; they also looked at factors such as the number of full time equals that were allotted. However, on the other hand the private sector has always focused on the monetary procedures as their bottom line; this includes return on investment, earnings per share and even market share. It is imperative to understand that alone, neither of the approaches can be able to give stipulation for the full viewpoint of an organization’s routine. However, by ensuring that there is a balance that exists between the internal process as well as results from financial measures, managers can be able to have a complete picture as to whether the company should be able to make improvements. For this reason, the balanced score card was used as it