management information system 82

Discussion Post – 05/27/2020

Review at least 4 articles on Balanced Scorecard and complete the following activities:

1. Write annotated summary of each article. Use APA throughout.

2. As an IT professional, discuss how you will use Balanced Scorecard to manage IT resources efficiently.



Reply to Farhanaz Syed – 05/29/2020

A balanced score card represents about strategic oriented management system within an organization. It involves the typical identification of long standing goals, economic & non economic activities, leading & delaying indicators as well as exterior & interior presentation perspectives. It is extensively utilized in huge range of establishments in order to execute the plans effectively. The balanced scorecard has a total of 4 numbers of view points in the regard of strategic performance management system. Further, there are some number of areas which requires balancing that includes economic & consumer prospectus, interior perception of business etc., A large number of key aspects that are required to take attention are the consumer & business balance, change & stability balance, the balancing of constructive & responsive driver, internal & external factors balance (Sushil,2008[1]).

A planned management tool that explains & executes the plan effectively is termed as a balanced score card. In an organization, it enables the decision makers for effective planning & implementation activity as well as to reduce the difficulties that are related to the utilization of economic resources. A business score card was created as a response tool to counteract two major problems. They are various sorts of difficulties in business in translating the strategies into practice & also in connecting the operational resources & management with strategic plans and also conventional economic & financial actions inability in order to track the organizational performance. Further, it also helps in achieving the specified goals, policies, programs & strategic which arises from these four key set of business functions. The organizations can identifiy the factors which impairs the performance of the business & tracks the future scorecards for any sort of changes in the strategies. They offers information in the regard of business in a whole as soon as they verifies the companies objectives. (Hristov, I,2016[2])

A balanced score card concept is established on the principle of overall comprehensive due to the lack of proper assessment in the regard of performance of the company by using a single metric such as economic metrics. Contemporary organizations which covers a number of aspects of performance substantially correlates their objectives with relatively large measurement methods. Further, the multi dimensional structure’s integrity can also be linked to ineffectiveness in the regard of academics. Most of studies concluded that there is sufficient scientific indication which shows that it is not a complete multi dimensional performance system which promotes the development and also its applications (Kureshi,2014[3]).

A business score card is a practical tool which supports the business processes in order to bring the organization’s business strategies into action. It includes several perspectives such as planning, controlling & staffing of specified objectives, requirements of proposed action plans etc., The balanced score card creation continuously focuses on reconciliation. It guides the organization so as to examine the future specified objectives and align them with the plan of action. Further, every process & concepts that are to be applied and governed are incorporated by the utilization of business score cord in an organization. Through the goals & incentives, proper & effective communication is maintained in between all the levels of the hierarchical levels of the organization (Academy et al,2018[4].

As an IT profession, I would use the balanced scored card for the controlling of IT resources as well as for strategic communications purpose. Further, its utilization will be extended for the identification of the business model in a strategic map which lets the hierarchical management of the organization to asses the relations between the causes & effects of the strategic goals and their performance aspect also.

References

Academy, I., & Georgiev, M. (2018). The Role of the Balanced Scorecard as a Tool of Strategic Management and Control. Journal of Innovations and Sustainability, 3(2). Retrieved from https://www.researchgate.net/publication/317872404_The_Role_of_the_Balanced_Scorecard_as_a_Tool_of_Strategic_Management_and_Control

Hristov, I., & Chirico, A. (2016). The Limits of the Balanced Scorecard. Open Journal of Social Sciences, 4(11), 53-58. doi:10.4236/jss.2016.411004

Kureshi, N. I. (2014). To ‘Balanced Scorecard’ or not to ‘Balanced Scorecard’ – That is the question. Journal of Strategy and Performance Management, 21(3), 31-38. Retrieved from https://www.researchgate.net/publication/312173017_To_’Balanced_Scorecard’_or_not_to_’Balanced_Scorecard’_-_That_is_the_question

Sushil, P. (2008). How Balanced is Balanced Scorecard? How Balanced is Balanced Scorecard? 9. doi: 10.1007/BF03396538

Reply Trinadh Gyruboyina – 05/29/2020

Balanced Scorecard

Summary

Cheng, M. M., & Humphreys, K. A. (2016). Managing strategic uncertainty: The diversity and use of performance measures in the balanced scorecard. Managerial Auditing Journal; Bradford, 31(4/5), 512-534. doi:10.1108/MAJ-12-2015-1286

According to the author Cheng Mandy M (2016), the framework of the balanced scorecard plays an important role in bringing strategic deliberations with the control of management. A key governance mechanism intended to allow directors to reply to the strategic uncertainty that is balanced scorecard; moreover, it is the demonstration of a plethora of performance measures across the classifications to reimburse for the drawbacks of concentrating on the economical measures (Cheng & Humphreys, 2016).

Hamid, N. (2018). Use balanced scorecard for measuring competitive advantage of infrastructure assets of state-owned ports in Indonesia: Case in Pelindo IV, Indonesia. The Journal of Management Development; Bradford, 37(2),

The author Hamid, Nurdjannah (2018) describes that a balanced scorecard is strategic planning as well as management systems that organizations used to communicate. It is used to measure the competitive benefit of substructure assets. It is also a management system. This study adopts a quantitative explanatory case study approach to examine the efficiency of the balanced scorecard on the procedure of strategic management. Several associations are facing rising experienced as well as demanding consumers of the shareholders (Hamid, 2018).

Chimtengo, S., & Hanif, K. M. (2017). An evaluation of performance using the balanced scorecard model for the university of Malawi’s polytechnic. African Journal of Business Management, 11(4), 84-93.

The author Stephen Chimtengo (2017) explains that it is the systems of the management that must not only emphasize the economical phases of the trade however also the internal consumer procedures as well as aspects of learning. It also assists in implementing as well as communicate a strategy of association and translate their mission as well as a strategy into tangible measures and objectives. Operational execution, as well as strategic planning, are the important features of any model of performance measurement (Chimtengo & Hanif, 2017).

Aliakbari, N. F., Nikabadi, M. S., & Olfat, L. (2019). Developing the framework of sustainable service supply chain balanced scorecard. International Journal of Productivity and Performance Management; Bradford, 68(1), 148.

According to the view of the author laya olfat (2019), the balanced scorecard model is the system of the performance management that offers a background to translate an approach into the terms of the balanced operation with the procedures as well as plans. It has become the widely used as well as inspirational sources of several other models of evaluation, furthermore its applications in the different arrangements as well as functions of the companies (Aliakbari, Nikabadi, & Olfat, 2019).

According to my perception, the balanced scorecard provides a framework for building as well as communicating the strategy. The IT industry has risen through the usage of the management tool both for the maintenance as well as the development. The model of the business is visualized in the strategy map that assists managers in thinking regarding the relationships of cause and effect among the different strategic domains. The use of the IT resources of the one business may be at the expense of others; thus, ethical consideration must be taken into account.

References

Aliakbari, N. F., Nikabadi, M. S., & Olfat, L. (2019). Developing the framework of sustainable service supply chain balanced scorecard. International Journal of Productivity and Performance Management; Bradford, 68(1), 148. doi:10.1108/IJPPM-04-2018-0149

Cheng, M. M., & Humphreys, K. A. (2016). Managing strategic uncertainty: The diversity and use of performance measures in the balanced scorecard. Managerial Auditing Journal; Bradford, 31(4/5), 512-534. doi:10.1108/MAJ-12-2015-1286

Chimtengo, S., & Hanif, K. M. (2017). An evaluation of performance using the balanced scorecard model for the university of Malawi’s polytechnic. African Journal of Business Management, 11(4), 84-93. doi:10.5897/AJBM2016.8201

Hamid, N. (2018). Use balanced scorecard for measuring competitive advantage of infrastructure assets of state-owned ports in Indonesia: Case in Pelindo IV, Indonesia. The Journal of Management Development; Bradford, 37(2), 114-126. doi:10.1108/JMD-12-2016-0313

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