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Click to edit Master subtitle style 7/8/11 l 2003 Prentice Hall Business Publishing, PowerPoint supplement to Management Accounting, The Balanced Scorecard Chapter 13
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7/8/11 l 2003 Prentice Hall Business Publishing, PowerPoint supplement to Management Performance Measurement Systems “ If you can’t measure, you can’t manage” Performance measurement systems provide multiple roles: l Communicate strategic objectives l Motivate employees to help company achieve its objectives l Evaluate performance of managers/units l Allocate resources l Generate feedback on company’s progress in meeting its shareholder and customer expectations
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7/8/11 l 2003 Prentice Hall Business Publishing, PowerPoint supplement to Management Performance Measurement Systems The Balanced Scorecard is developed and used for measuring and managing all aspects of organizational performance recognizing the importance of both financial and non-financial indices. There are several other performance measurement frameworks including Malcolm Baldridge National Quality Program for performance excellence Surveys indicate that 60-70% of companies around the world report using some version of the Balanced Scorecard
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7/8/11 l 2003 Prentice Hall Business Publishing, PowerPoint supplement to Management Achieving Success in the Information Era To achieve success in the information era, companies need more than prudent investment in physical assets and excellent management of financial assets and liabilities Companies mobilize and create value from their intangible assets as well as their physical and financial ones
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7/8/11 l 2003 Prentice Hall Business Publishing, PowerPoint supplement to Management Intangible Assets An organization’s intangible assets include: l Loyal and profitable customer relationships l High-quality processes l Innovative products and services l Employee skills and motivation l Databases and information systems
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7/8/11 l 2003 Prentice Hall Business Publishing, PowerPoint supplement to Management Measuring Intangible Assets Difficulties in placing a reliable financial value on intangible assets have prevented them from being recognized on a company’s balance sheet These assets are critical for success Managers have searched for a system that would help them measure and manage the performance of their intangible, knowledge-based assets
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7/8/11 l 2003 Prentice Hall Business Publishing, PowerPoint supplement to Management The Balanced Scorecard Developed by Robert Kaplan and David Norton The Balanced Scorecard (BSC) provides a system for measuring and managing all aspects of a company’s performance The scorecard balances traditional financial measures of success, such as profits and return on capital, with non- financial measures of the drivers of future financial performance The Balanced Scorecard measures
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7/8/11 l 2003 Prentice Hall Business Publishing, PowerPoint supplement to Management Perspectives Four different but linked perspectives are derived from the
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