Help me study for my Management class. I’m stuck and don’t understand.
THIS IS MAIN QUESTION
Review at least 4 academically reviewed journal articles (Attaching 4 documents below) on Balanced Scorecard and complete the following activities:
1. Write annotated summary of each article (Note a summary is different to a discussion). Use APA throughout.
2. As an IT professional, discuss how you will use Balanced Scorecard to manage IT resources efficiently.
3. Reply two of your classmates posts.
HERE IS MY CLASSMATE REPLY THAT I NEED A REPLY FOR:
Ratnaningrum, Y. Anni Aryani, & Doddy Setiawan. (2020). Balanced Scorecard: Is It Beneficial Enough? A Literature Review. Asian Journal of Accounting Perspectives, 13(2), 65–84. https://doi.org/10.22452/AJAP.vol13no1.4
The main purpose of a balanced scorecard (Kaplan & Norton, 1992) was to measure performance. The main focus was on finance, customer, internal process, and learning and growth metrics. With these measures’ IT companies can measure their identify all significant qualities of their strategy and improve partnership and teamwork continuously. As for performance management systems, balanced scorecard and intellectual capital incorporate financial and non-financial indicators, where both are combined close to the firm’s strategy. The article throws light on the fact that even though balance scorecard has its own shortcomings, it still remains worth considering for performance management issues.
Quezada, L. E., Reinao, E. A., Palominos, P. I., & Oddershede, A. M. (2019). Measuring Performance Using SWOT Analysis and Balanced Scorecard. Procedia Manufacturing, 39, 786–793. https://doi.org/10.1016/j.promfg.2020.01.430
The article mentions a balanced scorecard and swot analysis combined as a method to measure the performance of a company. A balanced scorecard focuses on the strategic objectives and performance indicators that are aligned with the strategy and mission of the organization. The application of this method is discussed with one of the food industries. The method proves efficient with promising results. The only drawback was that it was a bit time-consuming.
Hendrik Reefke, & Mattia Trocchi. (2013). Balanced scorecard for sustainable supply chains: design and development guidelines. International Journal of Productivity and Performance Management, 62(8), 805–826. https://doi.org/10.1108/IJPPM-02-2013-0029
The article is centered around the popularity of the balanced scorecard method. In an examination led by Kurtzman in 1997, around 64% of organizations utilized Balanced Scorecard (Reefke and Trocchi, 2013). The article shows practical examples in an attempt to demonstrate the feasibility and practical value of the conceptual approach.
Gupta, G., & Salter, S. B. (2018). The Balanced Scorecard beyond Adoption. Journal of International Accounting Research, 17(3), 115–134. https://doi.org/10.2308/jiar-52093
The article discusses the relationship between organizational culture and a balanced scorecard. The analysis os based on data collected from 1,126 top management and other employees in 48 manufacturing companies in India. The results show that the balanced scorecard method is affected by the organizational structure viz. Organizations that are future and performance-oriented with a high level of power distance have higher levels of BSC usage and vice versa.
As an IT manager I will make use of a balanced scorecard to track the performance and evaluate the efficiency of IT resources. To succeed financially emphasis will be given on how are stakeholders viewing our organization’s status. To satisfy the stakeholder or clients proper surveys will be conducted. Measuring a business process perspective will give the managers an idea about how the business is running. Lastly continuous learning perspective will include employee training and emphasis on corporate culture for continuous improvement.