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Article on Case Study of Balanced Scorecard

University: Ukcbc College London

  • Unit No: 15
  • Level: Diploma
  • Pages: 4 / Words 1077
  • Paper Type: Dissertation
  • Course Code: L/508/0546
  • Downloads: 357
Question :

This unit state that article had to be review and critique discussion had to be carried out on balance scorecard as a management accounting tool.

  • Provide a brief overview of the article balance scorecard.
  • Conduct literature review of the article.
  • Formulate research methodology with the help of secondary data.
  • Execute result and discussion of the article.
Answer :
Organization Selected : Dekike and Medison

Summarizing the content and context of article related to the balance scorecard

Concerned research paper shows that tools and techniques of management accounting are widely used in the global practice. The main motive of authors behind conducting present investigation is to assess the manner in which management accounting techniques are developed and popularized globally. Further, concerned research paper or article clearly presents that use of management accounting tools are increasing in the daily management or business practices. Selected research paper provides deeper insight about the history, features and other main aspects of balance scorecard approach. It can be depicted from the evaluation of research article that balance scorecard technique is highly effectual which in turn helps in evaluating performance from both the perspectives monetary and non-monetary. Moreover, balance scorecard tool includes key strategic performance measures such as stakeholders, financial, leaning & growth and internal process. Research paper also clearly entailed or highlighted that continuous reinvention strategy is used by Kaplan and Norton for maintaining control pertaining to balance scorecard technique. 

Literature review

In the context of article selected, high level of emphasis has been placed by the researcher on assessing the popularization of balance scorecard under management accounting practices. The objective of researchers here is to assess the manner in which various features of balance scorecard tool translated and transformed. In addition to this, motive of scholars behind carry out the present study is to investigate the networks and association which not only shape balance scorecard but also mobilize the interest level of several areas. By doing assessment of literature review section, it has assessed that viewpoint of different authors evaluated highly in line with the research questions drafted. Under the section of literature review, researcher has clearly highlighted the history of balance scorecard approach. Further, LR section presents that, as per survey, balance scorecard comes under the category of 6 most widely used tools. Now, there are several types of firm such as consulting, professional, software business organizations and g academic units. This in turn presents that popularizing level of balance scorecard in the field of management accounting is high. In LR, authors presented, according to Kaplan and Norton, balance scorecard tool as an innovative approach or management practice.  Several survey results presented by different authorities clearly present that balance scorecard tool are used at wide level. Concerned researchers mentioned that, referring past survey results that 60% of large US companies undertake balance scorecard tool for managing operations. Further, research results presented by Cranfield University shows that 75% of the companies with formal process of performance measurement uses balance scorecard as the main method for integrating business activities with the goals (Cooper, Ezzamel and Qu, 2017). Hence, by taking into past studies high level of emphasis has been placed by the researcher on highlighting the popularity of management accounting tools such as balance scorecard. Referring past studies, it can be mentioned that balance scorecard technique makes significant contribution in the goal attainment. Hence, from theoretical viewpoints researcher has met goals and objectives to a great extent.

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However, scholars can make the concerned study more effectual by taking into account the advantages and disadvantages of balance scorecard tool. According to the views of Kaplan and Norton (2001), balance scorecard technique is highly effectual which in turn provides assistance in bridging gap which takes place between organizational gaols and activities. However, on the critical note, Siadat, Abdollahi and Garshasbi (2017) stated that for making balance scorecard approach successful strong leadership support is highly required. Further, in this, issues are also facing by the manager in relation to keeping everyone on the same page. Besides this, Turco (2017) mentioned in their study balance scorecard approach provides employees with clear goals and motives while working on handling measures. Such management accounting approach also assists in aligning departments with the vision. BSC approach enables personnel to see the manner in which individual goals are aligned with the organizational strategy (Nørreklit and Mitchell, 2014). Hence, scholars had not widely discussed the benefits and drawbacks of balance scorecard approach. By highlighting pros and limitations of balance scorecard researchers would become able to support its use and popularity in the best possible manner.

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Article on Case Study of Balanced Scorecard

Research methodology

In the concerned research study, secondary data has been undertaken by the researcher. Hence, for meeting aim in relation to assessing popularization of management accounting idea in the context of balance scorecard approach data has been gathered from books, articles and case studies. Strength of such data collection method is that it provides high level of assistance in ascertaining or gathering information about balance scorecard from wide range of sources. In other words, different books, journals and scholarly articles help in assessing key players who are involved in balance scorecard approach (Cooper, Ezzamel and Qu, 2017). Further, secondary data sources clearly exhibit specific stages which are considered while developing balance scorecard. Such data collection method is highly effectual and less time-consuming. However, primary data collection methods furnish suitable information in accordance with the research aim and objectives. Suitable view of such study can also be presented by conducting survey on the management authorities of leading business units. Moreover, managers have better idea about key personnel who involved in the aspects of balance scorecard.

Results and discussion

From the assessment of result section, it has identified that balance scorecard tool lays more focus on two important aspects such as multiple measures and balance. Balance scorecard technique includes mainly four perspectives such as stakeholders, monetary, learning & growth as well as internal process. Hence, all such major aspects or elements assist in evaluating strategic environment and performance in the best possible way. Further, it has assessed from the discussion section that majority of the companies are using balance scorecard approach for facilitating innovation within the unit. Further, it helps in developing proper linkage between organizational mission, vision, goals and strategies. This may be served as a most effectual communication tool which helps in measuring performance from different perspectives.  Along with this, findings presented in the article shows that balance scorecard tool assists in developing framework which helps in gaining competitive edge over com

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