The balanced scorecard: a new challenge

摘要

Purpose - The purpose of this paper is to focus on one strategy known as "The Balanced Scorecard". discussing the growing importance of balanced scorecard performance systems, exploring issues that organizations face in building and implementing scorecard systems, and sharing lessons learned from Australian organizations that have taken the balanced scorecard journey.rnDesign/methodology/approach - The approach taken is the case study methodology to depict the real world examples of organisations that have confidence in the "Balanced scorecard performance system" so that other organisations can follow suit.rnFindings - The paper concludes that the balanced scorecard approach may require some substantial changes in culture within the organization.. The balanced scorecard requires understanding, commitment and support from the very top of the business down. The balanced scorecard will evolve. As culture changes and develops to accept the new approach and members of the organisation mature within the new culture, the organisation will find new things to measure, new goals in different areas, to make the balanced scorecard even more balanced and effective in supporting a living, growing, viable organisation. Different organisations have quite different needs, market areas, people, products and services, and will end up with significantly different balanced scorecards. Research limitations/implications - The outcomes were based on two multinational corporations and may differ with small and medium enterprises.rnPractical implications - The balanced scorecard is balanced in another dimension - not just a balance of measures of essential areas of the business, but also a balance of goals versus accountability. If people do not accept accountability for achievement of the balanced measures and goals of the balanced scorecard, there is no balanced scorecard. The people of the organisation are the key to the success of the balanced scorecard system.rnOriginality/value - The paper specifically looks at the implementation of the "Balanced Score Card Performance Management System" in Australian corporations.