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
Recommended Citation
Grimm, Josiah D., "The Balanced Scorecard: The Key to Effective Strategic Management" (2015). Senior Honors Theses. 518.
https://digitalcommons.liberty.edu/honors/518
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.
Included in
Business Administration, Management, and Operations Commons, Strategic Management Policy Commons
