Balanced Scorecard

Balanced Scorecard:
 
Management control is not about keeping people on a tight leash. Rather, control refers to the measures that management puts in place to monitor how well an organization is doing against goals that were developed as part of the planning process. A popular measurement tool is the Balanced Scorecard. This was developed by Kaplan and Norton as a means of monitoring performance using a holistic set of measures rather than the more historical short term focus on just financial performance and profits (albeit those are important). The balanced scorecard is discussed in Chapter 16 of the course textbook. Its important to remember that all measures are not just used to monitor how the organization is performing but also as a starting point for future plans. The purpose of this assignment is to adapt a balanced scorecard to assess your own performance in key management functions. 
 
There are two parts to this assignment. The first is to define the balanced scorecard and the second is to demonstrate understanding of the benefit in using this type of business tool. Be sure to include both parts in your paper. 
 
Write an APA formatted paper addressing each part and bulleted items within each part. Information coming from your research should be cited and applicable references included. Keep in mind, the paper should have an introduction, address the areas listed below as the body of the paper, and a conclusion. You will also need to include the cover and references pages.    
 
 
Part 1 (keep in mind this information is research based so that it should be properly cited): 
 
      provide the definition of the balanced scorecard 
      discuss the benefits this type of tool provides to company executives and managers 
      provide an example of how a large company can use this information 
 
 
Part 2 Consider yourself as a business (so that you are doing a self-analysis) for part 2 of this assignment. 
 
      Adapt a typical balanced scorecard to measure your current skills in the four functions of management: Planning, Organizing, Leading and Control as the key areas in which you need to excel to be an effective manager. If you present the balanced scorecard as a graphic, be sure to provide details of your analysis. You can also write out your scorecard details as part of the paper.   
      Identify the core skills and your objectives for each function and where you would currently assess your own performance in each of them.  
      Identify your future targets/goals.  
      provide a method to measure if you have accomplished your targets/goals 
      provide details of how you identified the skills needed, how you will measure your targets, as well as how knowing this information will benefit you in the future. 
 
There is a 2-source minimum with APA in-text citations and a Reference page. This is an APA paper format (title page, pages numbered, double-spaced); uses above headings; 3 content pages minimum (not including the title page or reference page).  Be sure to include an introduction, the bulleted items as part of your body (summarize bullet items and create headings for each section), and a conclusion.  
 
Creating and Submitting the Scorecard: 
Adapt one of  as a guide of a balanced scorecard to create your personal management scorecard–using the four categories of Planning, Organizing, Leading and Controls. You can develop your scorecard in a Word, Excel or PPT document, by hand, or with computer software. The balanced scorecard should be included within the paper. You can also attach the balanced scorecard as a separate file. Submit via Assignments in the course navigation bar