Abstract :

Balanced Scorecard (BSC) Has Also Become A Multifaceted Strategic Management Instrument That Helps Organizations To Assess Performance In A Non-financial Manner. The Following Research Paper Attempts To Evaluate The Performance Of Firms Using Balanced Scorecard Framework By Analyzing Four Major Perspectives Of The Framework Such As Financial, Customer, Internal Business Processes And The Learning And Growth. The Research Design Is Descriptive And The Chosen Companies That Have Implemented BSC Approach Are Being Studied To Investigate How Strategic Targets Can Be Connected In The Measurable Outcomes. Primary And Secondary Data Were Compared To Assess The Effectiveness With Which BSC Can Transform Strategic Vision Into Performance Indicators That Can Be Put Into Practice. Results Indicate That The Companies That Have Implemented The BSC Model Show Better Degrees Of Strategic Alignment Between The Strategic Objectives And The Performance Of The Company, Better Stature Of Decision-making And Reliance In The Shortterm And The Long-term Sustainability. The Research Comes Up With The Conclusion That The Balanced Scorecard Is An Efficient Integrative Instrument Of Performance Assessment And Strategic Management Particularly In Dynamic Business Conditions. The Paper Also Points Out That The Key To A Successful Implementation Of BSC Lies In Constant Monitoring And Involvement Of Employees. Keywords: Balanced Scorecard, Firm Performance, Strategic Management, Performance Measurement, Organizational Effectiveness, Descriptive Study

Published:

18-8-2022

Issue:

Vol. 22 No. 8 (2022)

Page Nos:

75-84

Section:

Articles

License:

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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