Make Balanced Scorecard a Regulatory Requirement

Balanced Scorecard
Knowledge Center

Accountant, Ghana

Make Balanced Scorecard a Regulatory Requirement

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.

  Elife Dilmac

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 not 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...


More on Balanced Scorecard:
Special Interest Group

Do you have a keen interest in Balanced Scorecard? Become our SIG Leader

Balanced Scorecard
Knowledge Center

About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2022 12manage - The Executive Fast Track. V15.8 - Last updated: 23-5-2022. All names of their owners.