• Magnus Brix Thrysøe
Balanced scorecard is a concept that broke through in 1992 when Kaplan & Norton introduced the theme. Since, it has gained spread as a corporate control system implemented in organizations all around the world. Originally, the development of Balanced Scorecard was an integrated performance measurement system, where it would provide a picture of the organizations performance. The measurements includes financial and non-financial ratios, and consists of four different perspectives based on the organizations strategic focus areas. The four perspectives consist of a tool with a financial view, and three non-financial perspectives that focus on customers, internal processes and learning and growth. With time, Balanced Scorecard was incorporated as a management system in many companies. As more and more companies use Balanced Scorecard in their management reporting, it has evolved into a tool for formulating the company’s strategy. Therefore, Kaplan & Norton realized the need for a new management model, and introduced the book called “The Execution Premium”. The purpose with the book was to integrate the organizations strategy with the management accounting system. In this thesis, the use of Kaplan & Norton’s management tool is to link goals, targets and actions that together describe an organization’s strategy, and how to achieve this strategy. The motivation for this thesis is therefore to provide a management tool that Mogens Daarbak can use to provide an overview of the strategy. The optimal result or goal would be for the company to understand the strategy by looking at a scorecard, as the best Balanced Scorecards reflect the strategy. The development of the analysis has been carried out in the light of the planning phase. In the first phase, a strategy map is prepared, which provides an overview of Mogens Daarbak strategic themes as well as critical success factors. The strategy map shows a number of causal effects, derived from the strategic themes and strategic objectives. Based on the strategy map, the company can easily describe its overall strategy for the concern, as it is visually easily understandable. The second phase was to prepare a Balanced Scorecard, by setting goals that were in accordance with the strategy. The purpose of the development of key indicators and targets purpose is that Mogens Daarbak would be able to track the impact of the efforts. The Balanced Scorecard can therefore act as a broad and integrated overall view of the processes that Mogens Daarbak needs to be aware of. The final phase was to develop strategic initiatives. In continuation of the Balanced Scorecard, it is advisable to emphasize which strategic initiatives needs to improve the work in individual key indicators. The established initiatives is set as a portfolio where each initiative is independent of each other. The thesis is based on the management’s desire to have a Balanced Scorecard prepared, which has been done in this thesis. The next step for the management is therefore to evaluate the material produced and decide if they want to proceed with an implementation phase.
SprogDansk
Udgivelsesdato8 jun. 2017
Antal sider84
ID: 259343154