The balanced scorecard
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Keywords
Balanced scorecard ; Performance measurement ; Strategic management ; Key performance indicators ; Strategy execution ; Strategy alignment ; Organisational performance ; Performance evaluation ; Performance metrics ; Financial perspective ; Customer perspective ; Internal processes perspective ; Learning and growth perspective ; Strategy implementation ; Performance improvement ; Stakeholder satisfaction ; Organisational effectiveness ; Data-driven decision making ; Cascading objectives ; Scorecard designAbstract
This diplomatic thesis examines the Balanced Scorecard, a strategic management tool that aims to provide a holistic view of organisational performance. The thesis delves into the Balanced Scorecard's history, benefits, challenges, and implementation of the Balanced Scorecard. It also includes a questionnaire section that gathers valuable insights from practitioners. The research underscores the significance of the Balanced Scorecard in improving performance, aligning strategies, and measuring results.
Introduction:
The introduction section defines the Balanced Scorecard and overviews its components. It highlights the importance of setting SMART goals and presents an outline of the subsequent chapters.
Chapter I: Definition and Overview of the Balanced Scorecard:
This chapter offers a comprehensive understanding of the Balanced Scorecard. It defines the concept and explores its four components. Furthermore, it guides readers on constructing a practical Balanced Scorecard and emphasises the use of SMART goals to ensure clarity and focus.
Chapter II: History of the Balanced Scorecard:
The historical evolution of the Balanced Scorecard is thoroughly examined in this chapter. It traces the concept's origins, beginning with French engineers' pioneering work in the 1930s. The chapter then explores subsequent developments, including the contributions of General Electric, Peter Drucker, and Robert Kaplan. It is also good to highlight the transformative impact of Dr. Nolan Norton and Kaplan's work in 1990.
Chapter III: Benefits of the Balanced Scorecard:
This chapter investigates the various benefits associated with implementing the Balanced Scorecard. It emphasises how organisations can enhance performance by using this strategic management tool. The chapter explores how the Balanced Scorecard facilitates strategic alignment and effectively measures results. It also acknowledges the limitations and challenges that may arise during implementation.
Chapter IV: Challenges of the Balanced Scorecard:
Examining the potential hurdles faced during the implementation of the Balanced Scorecard, this chapter provides insights into the challenges of the Balanced Scorecard. It explores selecting appropriate measures, maintaining focus, and avoiding over-reliance on metrics. By addressing these challenges, organisations can optimise the benefits of the Balanced Scorecard.
Chapter V: Implementing the Balanced Scorecard:
This chapter offers a practical guide on implementing the Balanced Scorecard. It provides a framework for organisations to establish the Balanced Scorecard approach effectively. It outlines critical responsibilities and suggests strategies for setting realistic targets aligned with organisational goals.
Chapter VI: Questionnaire:
The questionnaire section encompasses a study to gather real-world perspectives on the Balanced Scorecard implementation. It includes an introduction to the questionnaire, details about the sample, and the methodology employed to distribute and collect responses. The findings from this questionnaire offer valuable insights into the experiences and perceptions of practitioners concerning the Balanced Scorecard.
Conclusion:
In conclusion, this diplomatic thesis provides a comprehensive analysis of the Balanced Scorecard, its history, benefits, challenges, and implementation strategies. By adopting this strategic management tool, organisations can improve their performance, align strategies, and effectively measure results. The questionnaire section adds real-world perspectives, enriching the overall understanding of the Balanced Scorecard's practical implications.
The research presented in this thesis contributes to the scholarly literature on the topic and offers actionable insights for practitioners seeking to implement the Balanced Scorecard within their organisations. The findings emphasise the importance of a well-constructed Balanced Scorecard that aligns with organisational goals and enables effective performance measurement and strategic decision-making.
Postgraduate Studies Programme
Οικονομική και Επιχειρησιακή ΣτρατηγικήDepartment
Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Οικονομικής ΕπιστήμηςNumber of pages
110Language
EnglishCollections
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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα