Make Balanced Scorecard a Regulatory Requirement

Balanced Scorecard
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Balanced Scorecard > Best Practices

AMOS, Accountant, Ghana
I have the view, that the Balanced Scorecard should be enforced as a regulatory requirement for organizations. It should be part of corporate governance requirement to regulate the strategies employed by management and the board. It should be part of SarbOx for USA or corporate governance regulatory requirement, 'comply or explain'. It is because now the emphasis, is on the customer satisfaction and continuous improvement of process, it has a long term profit maximization and competitiveness. (...) Read more? Sign up for free

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  Elife Dilmac, Turkey

Supporting this Idea

Amos, I am really supporting this idea for the BSC. Before being able to make it a regulatory requirement, government people must be convinced of the benefits of the balanced scorecard.

  JC Spender, Strategy Consultant, United States

Balanced Scorecard Unlike Accounting is no Measure

Unfortunately the Balanced Scorecard (BS) is little more than a concept, impossible to articulate as a measure.
GAAP makes accounting seem objective. There are no similar institutional structures for the BS.
In fact, the core of the BS concept, especially obvious when you read Kaplan's history of the BS, is to balance the modernist tendency to try and quantify everything. In a sense the BS is a post-modernist reaction to the quantification/modeling tendency that dominates the analysis of management - as opposed to its practice.
The BS frames the necessary processes of synthesis that the management must enact before profit can be earned under conditions of Knightian uncertainty (check Wikipedia on this). Thus the BS is an attempt to reframe the theory of the firm as an activity only viable under uncertainty. It denies the modernist assertion that the firm is a rigorous maximizing mechanical device - as most business school professors insist. But they have never had to run a firm, of course, or manage anything.

  Alexander Guerra, Business Consultant, Mexico

BSC as a Regulatory Requirement

I believe the the BSC has a strong measurement con (...)

  Johnny Michael Tan, Management Consultant, Malaysia

Make Balanced Scorecard a Regulatory Requirement

Great idea. However, organizations should bot impl (...)

  Juan Carlos Solis Castro, Student (MBA), Mexico

Essential Principles

Most of us have heard some version of the standard (...)

  JC Spender, Strategy Consultant, United States

Balanced Scorecard is not a Measurement System

But first you have to create the value-adding firm (...)

  Earle Taylor, Turnaround Manager, United States

Difficulties in Making the BSC a Regulatory Requirement

The suggestion to make the BSC a regulatory requir (...)

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