Senior Honors Theses

Publication Date

4-21-2015

School

School of Business

Major

Business: Finance

Keywords

business, strategy, balanced scorecard, strategic management, systems thinking, six sigma, lean manufacturing, hashing kanri

Disciplines

Business | Business Administration, Management, and Operations | Strategic Management Policy

Abstract

The intent of this paper is to define the importance of the balanced scorecard in the strategic management process. The need for the balanced scorecard will be established by explaining the roles of demand shifters, traditional management accounting, Senge’s concept of a learning organization, and the strategic management process. This will involve detailing the stages of the strategic management process and connecting them to the various aspects of creating a balanced scorecard. Ultimately, the goal of the balanced scorecard is to translate the overarching strategy into specific actions that can be implemented throughout the organization. Lastly, other strategic applications of the balanced scorecard will be identified and explained.

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