Question

Elaborate on how AOU Arab Open University could use the concepts in the balanced scorecard. (220 words)

Answer 1

BALANCED SCORECARD :

The balanced scorecard (BSC) is a strategic planning and management system. Organizations use BSCs to: Communicate what they are trying to accomplish. Align the day-to-day work that everyone is doing with strategy. Prioritize projects, products, and services.

EXAMPLES OF BALANCED SCORECARD :

A tool for monitoring the strategic decisions taken by the company based on indicators previously established and that should permeate through at least four aspects – financial, customer, internal processes and learning & growth.

AQU ARAB OPEN UNIVERSITY CAN USE THE CONCEPTS OF BS :

The concept of balanced scorecard has evolved beyond the simple use of perspectives in AQU OPEN UNIVERSITY and it is now a holistic system for managing strategy. A key benefit of using a disciplined framework is that it gives organizations a way to “connect the dots” between the various components of strategic planning and management, meaning that there will be a visible connection between the projects and programs that people are working on, the measurements being used to track success (KPIs), the strategic objectives the organization is trying to accomplish, and the mission, vision, and strategy of the organization. The Balanced Scorecard is often recommended as a comprehensive management tool linking strategic and short-term action planning. While the literature offering general statements about the successful introduction of the Balanced Scorecard is plentiful, few reports of detailed experience are available. This article offers an insight into the process of elaborating the Balanced Scorecard for a strategic business unit of the ABB Industrie AG , outlining the experiences the unit gained during its introduction of the Balanced Scorecard, as well as emphasising important issues concerning the limitations of this approach.

CONCLUSION :

By observations of what managers do with the balanced scorecard (BSC), the purpose ofthe paper is to discuss how further empirical research may be advanced, which differentiates moreclearly what we study when exploring BSC work.