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Essay / Research Paper Abstract
A 5 page paper discussing only the measurement aspect of the balanced scorecard approach to implementing strategy and creating value for the organization. Accurate measurement enables the organization to identify where its efforts return the greatest benefit and value, so that it can concentrate on those areas in the future while still building other, similar areas for itself. Organizations can believe they are performing well; measurement confirms – or denies – such beliefs. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_KSmgMeasBalScor.rtf
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Unformatted sample text from the term paper:
states that one of the problems todays executives face is that they continue using "measurement frameworks designed for industrial economy organizations, which emphasize measurements of tangible assets" (p. 1).
In todays knowledge economy and climate, that type of measurement still is needed, but it cannot produce a complete view on its own.
Norton (2002) maintains that value and value creation lie in several areas that cannot be measured through traditional means. Value, according to Norton (2002) is indirect, contextual and potential,
and "assets are bundled." This means that "Intangible assets seldom create value by themselves. They must be bundled with other assets, generally other intangible assts, to create value"
(Norton, 2002; p. 2). IT Systems Information technology (IT) systems are invaluable in this regard. Formerly able only to store and retrieve
historical data, increasing numbers of organizations have come to realize that their IT systems hold much more knowledge than they have been retrieving in the form of reports. It
is at this point that the learning system becomes attractive to the focus organization. The promise of fuzzy logic years ago was that IT systems could "create" their own
data from existing data residing within them. Opponents envisioned smart computers that potentially could become malevolent in their operation, turning on their human creators. The vision was much
like that of "HAL," the computer with a mind of its own in "2001: A Space Odyssey." At the other extreme were purists holding that a computer was merely
a machine and nothing more, that artificial intelligence was a topic best left alone. In ensuing years, business has become more competitive than
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