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essay for this summary: The balanced scorecard is a rather innovative strategic and management tool that can be discussed as a way to improve communication and regulate business activities according to the company's goals and strategies. The balanced scorecard is a rather innovative strategic and management tool that can be discussed as a way to improve communication and regulate business activities according to the company's goals and strategies.
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#Researching the Balanced Scorecard Report
Today, the balanced scorecard can be discussed as a rather innovative strategic and management tool, and the potential benefits of its implementation should be analyzed according to the characteristics of this new strategy and management system. If several years ago the balanced scorecard was used only as of the performance measurement tool, the modern versions of the balanced scorecard provide companies with the possibilities to regulate their business activities according to the company’s goals and strategies, to assess the performance, improve the communications at all the levels, and determine the strategies to overcome the problematic issues. That is why, the importance of the study is in examining the particular features of the balanced scorecard’s implementation in companies, the advantages of the system, and possible weaknesses because of the tendency to use the balanced scorecard to optimize the business processes.
In their study, Braam and Nijssen concentrate on the aspects of implementing the balanced scorecard in the company and determine the antecedents of experimentation and the factors of the actual implementation of the system. Depending on the experiences of some firms, the researchers state the factors which are significant for the effective experimentation and implementation of the balanced scorecard (Braam and Nijssen). The results are important for managers to guarantee the effectiveness of the experiment or the system’s implementation. Houck and the group of researchers focus on the main purpose of the balanced scorecard which is the measurement of performance and determining the connection between the usage of the system and the employees’ motivation. The researchers have found that the effectively developed goal action plans as the component of the balanced scorecard program can contribute to increasing motivation and improving performance (Houck et al.). Thus, the researchers provide the observation of the real benefits of using the system. The purpose of Pereira and Nuno’s research is to examine the possible benefits and challenges related to implementing the balanced scorecard. From this point, the paper’s results can be compared with Braam and Nijssen’s findings and Houck’s conclusions. However, it is important to pay attention to the fact that Pereira and Nuno’s research is based on the education system and the Portuguese context. It was found that there are more benefits than obstacles in implementing the system to manage the organization that is why the system’s usage is rather advantageous for the situation (Pereira and Nuno).
If the other researchers focus on studying the peculiarities of using the balanced scorecard and its advantages and disadvantages, Dechow concentrates on the aspects of the exploring process itself. Dechow uses the observations of seasoned managers who worked with the system and provides recommendations on what aspects should be examined in relation to the balanced scorecard in the future (Dechow). Houck and the group of researchers examined the employees’ factor and their motivation in relation to the balanced scorecard, and Modell also focused only on one political aspect to examine the peculiarities of the system. Nevertheless, the purpose of the research is to review the literature on the problem and provide the implications for further empirical research, and the correlation between the political aspect and balanced scorecard was analyzed from many perspectives (Modell).
The process of implementing the balanced scorecard is rather complex, and it is necessary to continue research in order to examine all the aspects of the system. However, it is possible to state that the program’s advantages are obvious, and different elements of the program can be successfully used to improve the performance of the employees based on their motivation and other factors and to regulate the company’s progress in relation to the definite strategy.