¶ … Balanced Scorecard approach in an organizational situation
The Application of the Balanced Scorecard Approach in an Organizational Situation
A balanced scorecard is used to help ensure that a company is on the correct path and moving forward in a way that benefits it and its customers, as well as anyone else who has an interest in it, such as stakeholders or shareholders (Rohm & Malinoski, 2010; Kaplan & Norton, 1992). While some scorecards are only focused on the end result when it comes to what the numbers say, other scorecards deal with the strategy behind the numbers (Norreklit, 2000). These are the scorecards that are much more significant when it comes to technology companies, because they offer information about the how and why instead of just providing final numbers that are not going to provide strategic information (Rohm & Malinoski, 2010). It is not just about what a company is doing right, but how they are doing it right (Norreklit, 2000). This paper will address the difference between traditional scorecards and the more strategic way of creating one that will provide more significant information for companies that are looking for the best strategy for their company.
Analysis
Not understanding the how of the issue is much more of a downfall for technology companies, because they then have no strategy from which they can build and work (Rohm & Malinoski, 2010). By focusing only on the numbers...
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