Acc 421 Week 5 Checkpoint

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BBalanced Scorecard Krista Scott ACCT614-1103B-05 Professor James Ramig September 17, 2011 Introduction I have been asked to do a presentation on a balanced scorecard, as my boss has recently attended a seminar on this subject. He has asked that the presentation gives a definition to a balanced scorecard, discusses how it is used, wants a recommendation for adopting it for SAC’s, and if the recommendation is for adopting a balanced scorecard, then discuss how it may improve the company. He boss was intrigued enough at the seminar, that he hopes the balanced scorecard may be something that is a good fit for SAC. What is a balanced scorecard? A balanced scorecard is a system for management that is used to translate the hopes of a mission…show more content…
It will give the management of any company the benefit of seeing how well the company is meeting the goals of their mission statement. The common characteristics of a balanced scorecard are the same for each and every company that uses one; however each company will obtain different results. This is because each company will perform differently and the balanced scorecard will help the company to determine what is working for the company and what needs improvement. The balanced scorecard will help to make the employees perform better, which at the same time will help to improve customer satisfaction, thus the cause and effect sequence. If the employees are performing their job better, they will deliver better quality products, in a timelier manner, thus raising the customer satisfaction. The more satisfied a customer is, the more likely they are to keep purchasing your products and recommending your products to others, thus raising your financial level. Once again this shows the cause and effect that was discussed earlier in this report. Each of the four areas ties into one another, but they all are used to achieve the same thing; and increase bottom line for the

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