Posted: October 20th, 2022

Compose an essay which critically evaluates the use of the balanced scorecard (BSC) as a performance measurement tool.

ACFI303 ASSESSED COURSEWORKrn“As companies around the world transform themselves for competition that is based onrninformation, their ability to exploit intangible assets has become far more decisive than theirrnability to invest in and manage physical assets. Several years ago, in recognition of thisrnchange, we introduced a concept we called the balanced scorecard. The balanced scorecardrnsupplemented traditional financial measures with criteria that measured performance fromrnthree additional perspectives – those of customers, internal business process, and learningrnand growth”rnKaplan, R and Norton, D. (1996) Using the Balanced Scorecard as a Strategic ManagementrnSystem, Harvard Business Review, January – February 1996, pp 37.rn“The short-term, backward-looking, completed-transaction orientation of accountingrnmeasures can be balanced by focusing also on other performance measures that are morernfuture-orientated. For example, well-chosen nonfinancial measures can provide signalsrnabout what is likely to happen in the future”rnMerchant, K and Van der Stede, W. (2012) ‘Remedies to the Myopia Problem’ inrnManagement Control Systems. 3rnrd Edition. Gosport: Pearson Education, pp 452.rn“When applied in the innovation economy, the balanced scorecard displays significantrnlimitations in dealing with the new, rapidly changing and networked corporaternenvironment.”rnVoelpel, S et al. (2006) The Tyranny of the Balanced Scorecard in the Innovation Economy,rnpp 9.rnCoursework task (submission date 19th April 2016 at 2pm)rnCompose an essay which critically evaluates the use of the balanced scorecard (BSC) as arnperformance measurement tool.rnYour essay should provide coverage of the following areas:rn Origins of and the rise to prominence of the BSC as a performance measurement toolrn The BSC approach to performance measurement and the advantages it offersrn Limitations and/or criticisms of the BSC as a performance measurement toolrn2 | P a g e : A C F I 3 0 3 A s s e s s e d C o u r s e w o r krnEssay markings weightingrnThe overall marks for the essay will be broken down according to the below:rnEssay area/component %rnWeightingrnOrigins of and the rise to prominence of the BSC as a performance measurementrntoolrn25rnThe BSC approach to performance measurement and the advantages it offers 40rnLimitations and/or criticisms of the BSC as a performance measurement tool 20rnOverall structure, cohesion and clarity of essay discussion 10rnPresentation, grammar and referencing 5rnEssay Completion Guidelinesrn This essay is worth 30% of the overall ACFI 303 module mark.rn The word limit for the essay is 2,000 words (excluding references). The standardrnuniversity penalties will be applied for any work exceeding this word limit.rn Your essay should be appropriately cited and referenced using the Harvard style.rn The University’s rules and penalties with respect to plagiarism apply to this work. Yourrnessay must be entirely your own work.rn Your essay should be word processed using font size 12 and double line spacing.rn Ensure your spelling, vocabulary and grammar are correct and your essay is constructedrnusing logical paragraphs.rn Any queries regarding the essay should be posted to the discussion forum which can bernaccessed through VITAL or discussed by making an appointment in office hours.rn The discussion forum will be monitored over the Easter break excluding weekends andrnbank holidays. The final date for queries will be 15rnth April, any queries posted after thisrndate will not receive a response.

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