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In many cases, managers end up in trouble as they direct their focus exclusively on cost savings. Cost cutting is always emphasized, but other impacts, such as decreased quality, can be overlooked. These overlooked impacts can have a significant effect on the revenue and profitability of an organization. The balanced scorecard is a measure to assure that management is not exclusively driven by cost, but balanced with other measures that also can significantly influence the performance of an organization.
Using the module readings and the Argosy University online library resources, research balanced scorecard and its application.
Select a service industry organization of your choice. Complete the following for the selected organization:
- Recommend at least two performance measures in each of the balanced scorecard categories.
- Explain each of your recommendations.
- Using these measures as examples, explain how use of the balanced scorecard can increase the economic value added within the organization.
Write your initial response in 4–5 paragraphs
. Apply APA standards to citation of sources.
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Do the following when responding to your peers:
- Read all posts from your peers.
- Explain how their experiences differ from yours.
- Provide substantive comments by contributing new, relevant information or quotes from course readings, Web sites, or other sources; building on the remarks or questions of others; or sharing practical examples of key concepts from your experiences, professional or personal.
| Assignment 1 Grading Criteria | Maximum Points |
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Initial response: Was insightful, original, accurate, and timely.Was substantive and demonstrated advanced understanding of concepts.Compiled/synthesized theories and concepts drawn from a variety of sources to support statements and conclusions. |
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Discussion response and participation: Responded to a minimum of two peers in a timely manner.Offered points of view supported by research.Asked challenging questions that promoted the discussion.Drew relationships between one or more points in the discussion. |
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Writing: Wrote in a clear, concise, formal, and organized manner.Responses were error free.Information from sources, where applicable, was paraphrased appropriately and accurately cited. |
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| Total: |
In this module, you will expand your study of managerial accounting to include assessment and motivation of employees within an organization. Employees are the lifeblood of the overall operations and progress in any organization. To have maximum productivity from your employees, it becomes important to have goals aligned. The personal goals of the employee need to be aligned and consistent with the goals of an organization’s success. An appropriate incentive and growth opportunity can be used to align these goals.
Management should evaluate and manage employee performance on a regular basis by employing the leading indicators of performance. This allows the organization to identify problems, business opportunities, and business threats that may arise in the future. Leading indicators are also used to manage everyday activities to make sure the outcomes of business activities are favorable. From the leading indicators, employees receive signals about what they can do better before the outcome is made and it is too late to make a change.
The performance measures most commonly used by organizations are:
· Organizational learning and growth
· Business and production processes
· Customers
· Financial performance
Chapter 11 of text book
http://digitalbookshelf.argosy.edu/books/0077588002/outline/11
Garrison, R. (2012). Managerial Accounting (14th ed). McGraw-Hill Learning Solutions.
Retrieved from http://digitalbookshelf.argosy.edu/books/0077588002/outline/11
Chapter 13 of text book
http://digitalbookshelf.argosy.edu/books/0077588002/outline/13
Garrison, R. (2012). Managerial Accounting (14th ed). McGraw-Hill Learning Solutions.
Retrieved from http://digitalbookshelf.argosy.edu/books/0077588002/outline/13
