Hi, I need help with essay on Balanced Scorecard. Paper must be at least 2000 words. Please, no plagiarized work!
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Essentially, the balanced scorecard is concerned with analysis of four areas including customers, finance, business processes and learning and growth. Managers are usually engaged in collection of quantitative data and then analyzing it with the aim of making appropriate and long-term decisions courtesy of balanced scorecard technique. This paper will analyze five different papers, which have examined balanced scorecard through case studies, primary data collection and as well as secondary research. The papers have good insight on the applicability, advantages as well as the challenges of balanced scorecard in different organizational setups. The study will involve analysis of the aims, methods and results of each of the papers and then a different section will compare their results. Finally, the paper will end by a conclusion, which will explain what I have understood from this study.
Purpose of the study
The purpose of this study is to have a critical analysis of balanced scorecard based on the studies of other authors who have conducted their studies in various settings and using different methodologies. Analysis of researches done in different settings and based on different methods and results will provide insightful information on what balanced scorecard entails, its challenges and application in different organizations….
Using the insights derived from Yin (1994), the authors have researched the manner in which balanced scorecard performance management system has been fruitfully put into practice in two major hotel chains including Towers and ITC Maurya, which are located within the India’s capital. This case study comprises of the organizations’ interaction of 45 several stakeholders. Among those who participated in providing information in this study included the vice president, HR. In addition, secondary sources were examined for more evidence, which included power point presentations used to make communications in the organizations. Also conducted in the study was a cultural analysis that espoused the innovative intervention, whereby 20 employees including managers holding the top, middle and lower level positions were interviewed and the results recorded in an open-ended format. The results of the study show that a strategic and innovative HRM intervention in ITC Maurya leads to a relearning of a fresh performance-based culture and unlearning of the past culture, hence enhancing the successful execution of the balance scorecard technique. Nonetheless, this leads to institutionalization of HR role and the innovative process. The case study also typified BSC implementation in Maurya hotels. However, it is found that HR managers will have a challenge of repeating this intervention in the rest of the hotels in the capital, particularly depending on how the stakeholders are involved in the process as well as the manner in which the intervention involves the non-managerial staff.