Balanced Scorecard

In: Business and Management

Submitted By smeirman
Words 6301
Pages 26
Contents 1. Introduction 2. BSC in Kazakhstan a. Sat&Company JSC b. Eurasian Bank c. Alfa-bank SB JSC d. TetraPack 3. Conclusion 4. References

The organizations mentioned by the creators of Balanced Scorecard are from the future - only because they have a system that allows to create actual numerical results from the strategic initiatives and to turn a strategy into action
Philip H. Knight, CEO and founder of Nike

Introduction
Balanced Scorecard (BSC) is one of the current world's top-ten effective strategic performance management tools. BSC is a system of measuring the effectiveness of the entire company, based on a vision and strategy that reflects the most important aspects of the business. It supports strategic planning, implementation, and further adjustments to the strategy by combining the efforts of all departments. It was first introduced in 1990s and became a very popular worldwide. Despite this popularity, little is known about which organizations use Balanced Scorecard, what they use it for, and how useful it is in practice. BSC implementation in Kazakhstan is under a big concern of local top managers. In this report we are trying to answer the practical questions of BSC’s usage by Kazakhstani companies, its limitations as well as opportunities for its successful maintenance in Kazakhstan.
Benefits and limitations of Balanced Scorecard
Throughout the report we will pay attention to the BSC’s benefits and the opportunities it bring to the companies. In fact, the BSC approach makes the companies in most cases change the focus of its business by directing business towards meeting key customer needs. Besides this BSC system has the following advantages: * provides a complete picture and of the business for a top management of an enterprise; * allows to prevent the emergence of critical situations; *…...

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