Priyanka Srivastava 10423251DucThanh Nguyen 10671624|
-------------------------------------------------
Executive abstract
Over the past three decades, Australia, as with many early(a) first world countries, was in transition from an industrial age economy to information and services economy where knowledge resources much(prenominal) as know-how and expertise are as critical as other economic resources. In order to adapt to these changes, organisations wish to restructure and establish a new effect measurement system used parallel with conventionalistic fiscal measures with the figure of giving a better locating of organisation for management. As the result, the Balanced Scorecard (BSC) was originated by Drs. Robert Kaplan (Harvard Business School) and David Norton as a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to obligate managers and executives a more balanced view of organisational performance. The fact is that Westpac Banking Corporation (WBC) recently expressed dissatisfaction with their current performance measurement system, which relies primarily on financial measures.
Thereby, they intend to convert to BSC goaled under the management team. The aim of this report is to give you an insight of WBC organisation, some general caprices about punctuate of BSC, its strength and weakness, and show why it overcomes problem of traditional financial measures. Additionally, most importantly, the report aim to help WBC to design and implement the best BSC into its organisation. However, there are some concerns cogitate to behavioural implications after implementation of BSC are thoroughly discussed in this report. Through this report, you will have a better idea about how BSC is designed in a specific demeanor with the aim to help an organisation overcome problems from using traditional financial...If you want to get a full essay, order it on our website: Orderessay
If you want to get a full essay, wisit our page: write my essay .
No comments:
Post a Comment