The Balanced Scorecard - What are the advantages for ADMECO?

Seminararbeit , 2003 , 11 Seiten , Note: 1.1

BWL - Offline-Marketing und Online-Marketing

The Balanced Scorecard (BSC) was first described in the early 1990’s (Kaplan,Norton,1992i) and is a widely adopted management framework combining financial measures with non-financial ones in a single frame, transforming the company’s mission and strategy into tangible objectives and measurements. It is not directed at controlling but deliberately sets out to provide a system of communication, information and learning to equip small or large organisations with a strategic framework empowering them to link today’s action with tomorrow goals. The BSC focuses on key measurements, aligning the company with its business units and the overall corporate strategy.
A 2001 survey amongst European companies (Press Information Schweizii) confirms the Balanced Scorecard’s role as the leading performance management tool available. It further indicated that 50% of the European companies believe that applying the Balanced Scorecard and linking it with the overarching strategy will ultimately increase shareholder value.
If we turn to the concrete case of ADMECO, we find a clear acknowledgement that it needs more than just traditional financial measures to run its operation well. After all, managing the future means more than just knowing about the financial past and present, it means understanding operational factors better in order to drive future success. BSC provides an ideal framework for identifying these factors and unlocking hidden potential (McCunn,1998iii) since it recognises the impact a performance has in one area on another.
As Kaplan and Norton originally put it (Kaplan,Norton,1996,p.21iv), if you can measure it, you can manage it!

Inhaltsverzeichnis (Table of Contents)

• i. Abstract.
• 1.0 Introduction & Context.
• 2.0 Literature Review
• 2.1 Theory: What is a Balance Scorecard (BSC)
• 2.1.1 The Generations of BSC's
• 2.2 Performance Measurement Tools - What BSC Software Applications are available?
• 3.0 Case Studies.
• 3.1 ADMECO AG
• 3.2 Swissray America, Inc.
• 4.0 Discussion .....
• 5.0 Conclusion
• 6.0 References.

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This paper investigates the potential benefits of implementing a Balanced Scorecard (BSC) framework for ADMECO AG, a small business operation. The paper examines the impact of the BSC on business performance, drawing on research findings, personal experience, critical evaluation, and analysis. The central questions addressed are: Can the BSC drive future performance? Will it confer a business advantage on ADMECO? How useful is it?

• The advantages of using the BSC as a strategic measurement tool for small businesses.
• The impact of the BSC on business performance in terms of financial, customer, internal process, and learning & growth perspectives.
• The practical implementation of the BSC, including software applications and real-world case studies.
• The evolution of the BSC across generations and its role in strategic management.
• The relevance of the BSC for small businesses in a changing market and technological environment.

Zusammenfassung der Kapitel (Chapter Summaries)

• i. Abstract. This section introduces the topic of the paper, outlining the research questions and the approach taken to answer them. It highlights the focus on ADMECO AG and the exploration of the BSC's potential benefits.
• 1.0 Introduction & Context. This chapter defines the Balanced Scorecard (BSC) and its role as a management framework combining financial and non-financial measures. It emphasizes the BSC's ability to communicate information and facilitate learning within organizations. The chapter also provides context by discussing the BSC's widespread adoption and its potential to increase shareholder value.
• 2.0 Literature Review. This section delves into the theoretical underpinnings of the BSC, exploring its evolution and various generations. The chapter examines the key principles and benefits of the BSC, including its ability to translate strategy into action, align organizational goals, and facilitate strategic communication.
• 2.1 Theory: What is a Balance Scorecard (BSC). This chapter provides a detailed explanation of the BSC, outlining its four main perspectives (financial, customer, internal business process, and learning & growth). It highlights the importance of aligning objectives, measures, targets, and initiatives within each perspective.
• 2.1.1 The Generations of BSC's. This chapter explores the evolution of the BSC across generations, emphasizing the shift from a simple performance measurement tool to a more strategic management framework. It discusses the advancements in model building and the BSC's ability to link managers in the strategic process.
• 2.2 Performance Measurement Tools - What BSC Software Applications are available?. This section examines the availability of BSC software applications and their role in facilitating effective implementation. It highlights the importance of selecting software based on scalability, flexibility, customisation, and analytical capabilities.

Schlüsselwörter (Keywords)

The main keywords and focus topics of this work include: Balanced Scorecard (BSC), strategic measurement tool, business performance, financial measures, non-financial measures, customer satisfaction, internal business processes, learning & growth, strategic management, small business, ADMECO AG, software applications, performance measurement tools, and strategic communication.

• Hochschule: University of Strathclyde
• Note: 1.1
• Autor: MBA Andreas Keller (Autor:in)
• Erscheinungsjahr: 2003
• Seiten: 11
• Katalognummer: V178449
• ISBN (eBook): 9783656004578
• ISBN (Buch): 9783656005124
• Sprache: Englisch
• Schlagworte: balanced, scorecard, what, admeco