Make Balanced Scorecard a Regulatory Requirement

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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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		Supporting this Idea Elife Dilmac, Turkey, Member
	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.

		Balanced Scorecard Unlike Accounting is no Measure JC Spender, Strategy Consultant, United States, Member
	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.

		BSC as a Regulatory Requirement Alexander Guerra, Business Consultant, Mexico, Member
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		Make Balanced Scorecard a Regulatory Requirement Johnny Michael Tan, Management Consultant, Malaysia, Member
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		Essential Principles Juan Carlos Solis Castro, Student (MBA), Mexico, Member
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		Balanced Scorecard is not a Measurement System JC Spender, Strategy Consultant, United States, Member
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		Difficulties in Making the BSC a Regulatory Requirement Earle Taylor, Turnaround Manager, United States, Member
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