Balanced Scorecard Strategy and Balance Scorecard Review at least 4 academically reviewed journal articles on Balanced Scorecard and complete the following activities: 1. Write annotated summary of e

Article-1 (New Perspectives in Developing the Balance Scorecard Concept):

Balanced scorecard adds the necessity of aligning the organizational and individual efforts with vision and objectives of organization to the managerial equation. Financial perspective, stakeholder and customer, internal process and the capacity of organization to learn and grow are the four important aspects to consider. Organizations of both public and private sectors use the concept of balanced scorecard to emphasize on goals and visions of the organization, for evaluating strategic management’s performance and to use as an effective internal communication tool (Marcu, 2020).

Article-2 (The Balanced Scorecard beyond Adoption):

A test model has been developed by the authors to analyze the relationship between the structure of an organization and the way it uses the balanced scorecard. The model was developed based on the previous understandings of neo-institutional theory and actor-network theory. The authors collected and analyzed data from 1126 employees at different management levels in 48 companies in India, and they found that the use of balanced scorecard depends on the culture of organization. Maximum level of balanced scorecard usage can be observed in the performance-oriented organizations that have higher levels of power distance (Gupta & Salter, 2018). Collectivist and conventional organizations that prefer to avoid uncertainty have been found to rarely use balanced scorecards.

Article-3 (Project Selection Method Based on Balanced Scorecard Framework):

Project selection is a key decision for any company to reach its goals and to effectively manage the resources. In this paper, the authors used the dimensions of balanced scorecard to create a method that could successfully evaluate a project. By considering the dimensions of balanced scorecard along with budget and time constraints, the developed model can select projects that are more suitable to execute. The model was tested with random data and it can be used to evaluate the investments on the project (Yilmaz & Antmen, 2019).

Article-4 (Mitigating Agency Problems Using the Balanced Scorecard):

In this paper, the authors proposed a theory about the balanced scorecards mitigating the problems of agency. The authors proposed that the information asymmetry can be reduced by balanced scorecard and risk tolerance differences can be reduced by multidimensional-measures and performance measures that are linked strategically in balanced scorecard (Panggabean & Jermias, 2020). The authors also proposed that the balanced scorecard can align the goals of individuals and the organization.

As an Information Technology (IT) professional, I would use the balanced scorecard as a system for strategic planning and managing the resources. I would use it to communicate to the resources about their objectives, to align their everyday work with those objectives, to prioritize products, services and projects, and to measure the progress towards the objectives. The key advantage of using a balanced scorecard is that it presents the organization with a view of different components of strategic management and planning.