Balance Scorecard: A way to implement strategy in  turbulent times (A Case Study of R.K. Marbles)

Dr. Shiv Prasad; Dr. Shiv Dayal Singh; Dr. Veena Kumari

Volume : III, Issue : V, May - 2013

Balance Scorecard: A way to implement strategy in turbulent times (A Case Study of R.K. Marbles)

Dr. Shiv Prasad, Dr. Shiv Dayal Singh, Dr. Veena Kumari

Abstract :

Balance Scorecard Approach is used to measure the performance of a company. Dr. Robert Kaplan & David Norton developed it in early 90’s. It is a management system that enables organizations to clarify their vision and strategy and translate them into action. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise. The balanced score card suggests that we view the organization from four perspectives the financial perspective, the customer perspective, the internal business process perspective and the learning and growth perspective. The present research paper emphasizes the concept, important process and its relevance in the modern competitive world by applying on corporate sector.