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Technical

Effective performance management with the balanced scorecard Logo cima

  Liz Murby & Stathis Gould |   Free |   CIMA |   2005 |   Thought leadership

This report focuses on one such framework: the balanced scorecard. Of the tools designed to improve corporate performance, the balanced scorecard has probably been the most popular. Originally developed as a performance measurement tool, the scorecard is now associated increasingly with strategy implementation. It acts as a management framework with the potential to identify and exploit organisations’ key value drivers to their best strategic advantage. This report considers the more recent developments in scorecard thinking, in particular the key role of strategy mapping. It outlines how, through wide application, and facing ever-changing operating conditions, the scorecard has developed over the last ten years, to support different organisational ‘missions’ – from profit maximisation, to service delivery or resource optimisation.

Topics covered:
  • Management accounting: Business: Strategy, Advanced
  • Management accounting: Technical: Management reporting & analysis: Performance management, Advanced

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