The Balanced Scorecard-An Enduring Management Key for Success

Volume 14 Issue 1 June - August 2019

Research Paper

The Balanced Scorecard-An Enduring Management Key for Success

S. Saraswathi*, Rani Rajan**, Sindhu***

*Department of Management Studies, Chaitanya Bharathi Institute of Technology, Gandipet, Hyderabad, India.

**Department of Master of Business Administration, Methodist College of Engineering and Technology, Hyderabad, Telangana, India.

***Department of Management Studies, Jawaharlal Nehru Technological University Hyderabad, India.

Saraswathi, S., Rajan, R., & Sindhu. (2019). The Balanced Scorecard-An Enduring Management Key for Success. i-manager's Journal on Management, 14(1), 41-47.

Abstract

To deal with the complexity in today's dynamic business environment caused by the existence of global players and continuous technology enhancements, the U.S authors Robert S.Kaplan & David Norton have innovated the Performance Management Tool-'The Balanced Scorecard' as a solution for the modern knowledge economy enterprises. It provides accurate information of the various activity levels of an organization, enabling the managers to monitor and control them effectively. The innovation hence acts as an effective & efficient tool for the policy-makers to focus on various areas of the organization which needs attention and strike a better balance between them.