. The BSC is a tool which provides both hard and soft performance measures for
both non-profit and business organizations (Ahmad and Hasnu, 2013)
Implementation of BSC
A BSC starts with identifying strategies derived from organizations vision and
mission. Then, these themes are developed by evaluating the vision and mission
statement from four dimensions which is shown in the below diagram as below;
Adopted from Robert S. Kaplan and David P. Norton, Using the balanced scorecard as strategic
management Harvard Business Review (Kaplan and Norton, 1996)
achieve measures.
Initiative; Actions that should be taken to achieve the objectives
Advantages of BSC
The implementation of BSC has increased due its rational process and clarity .
Therefore it has become a management strategy, which can be used across
various sectors within an organization.
The BSC approach is a performance measure, which combines the
financial and nonfinancial measures to provide the managers with a
comprehensive report about the activities that they are managing.
Accordingly BSC approach adds a value to an organization due to the
followings;
1. It combines the financial and non-financial measures.
2. Concentrates on the process not metrics like most companies
hold most of their capital in intangible assets as training and
motivating the employees
3. It translates an organizations vision and mission in to
measurable goals through which it can measure the performance
against these goals
to
be
adjusted
to
BSC
perspectives.
Accordingly,
the
Bibliography
Ahmad, S. T. and Hasnu, S. A. F. (2013) 'Balanced Scorecard
Implementation: Case Study of COMSATS Abbottabad, Pakistan',
google. Available from: http://www.sciencepub.net/researcher
Department of Management Sciences, COMSATS Institute of
Information Technology, Abbottabad, Pakistan.: (Accessed: 4 october
2015). pp.88-91.
Figge, F., Hahn, T., Schaltegger, S. and Wagner, M. (2002) 'The
sustainability balanced scorecardlinking sustainability management to