Prepare a review of the literature on ? the balance scorecard and its links to developments in information technology? in relation to activity based costing. Review should be no longer than 1500 words. Use apa referencing style. Suggested structure although no specific structure is prescribed, you should include the following in your review of the literature. ? explanation of the balance scorecard including a brief summary of its origins. ? define the context to which you will be review the literature on bsc including the definition of any terms used ? outline the key issues identified in the literature ? outline the key findings of the literature ? any weaknesses and strengths ? your own.

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03-08-2022
Business

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Prepare a review of the literature on ? the balance scorecard and its links to developments in information technology? in relation to activity based costing. Review should be no longer than 1500 words. Use apa referencing style. Suggested structure although no specific structure is prescribed, you should include the following in your review of the literature. ? explanation of the balance scorecard including a brief summary of its origins. ? define the context to which you will be review the literature on bsc including the definition of any terms used ? outline the key issues identified in the literature ? outline the key findings of the literature ? any weaknesses and strengths ? your own.

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Tutorconsortium319 Tutorconsortium319 · Answer 1 · 2022-08-11T16:00:45+02:00

An organization can discover and strengthen its internal processes with the help of a balanced scorecard, a strategic management performance indicator, to improve its external results. Based on a review of performance information from the past, organizations are given advice on how to make decisions in the future that will be more effective.

Prepare a review of the literature on the balance scorecard and its links to developments in information technology in relation to activity based costing. Review should be no longer than 1500 words.

The balanced scorecard (BSC), activity-based management (ABM), and activity-based costing (ABC) are well-known management techniques. They serve as the foundation of performance management frameworks. Resources, Activities, Products, Services, and Customers are just a few of the important business factors that ABC and ABM deliver cost and other business knowledge about. By using them, managers can make choices that enhance cost and profit performance. The BSC converts strategic objectives into a set of performance metrics that are balanced by the crucial performance characteristics. By defining success in quantitative terms at every level of the business, it facilitates communication and execution of the strategic plan. The BSC and ABC are frequently seen as separate approaches, each serving a different goal. But when combined, they are more valuable since they are complementary. The benefits of connectivity include more comprehensive decision assistance and more performance measures, for which ABC is the only reliable source. For the benefit of the BSC, ABC performance measures have been incorporated. These include the cost of activities and activity results in the BSC of public and private organizations' internal business process components. This activity information includes both significant company operations and supporting services. Private companies use ABC profit metrics by the client, market area, market segment, and distribution channel in the BSC's customer dimension. The BSC allows ABC to provide up to 20–30% of the performance measures. For instance, 22% of the data in the BSC were derived from the South's activity-based pricing model. The BSC's users profit from ABC's analytical skills. The real cost of maintaining a mile of highway, for instance, can be discovered by the manager of the transportation department to be more than the target set forth in the scorecard. The manager has access to comprehensive data via ABC regarding the tasks and materials involved in maintaining roadways. By performing a thorough "drill down" and analysis of this data in ABC, it may be possible to identify the main cause of the issue and take appropriate corrective action. Due to the invention of new measurement techniques including the Balanced Scorecard (BSC), performance prism, performance pyramid, economic value added (EVA), economic profit (EP), and self-assessment approaches, performance measurement (PM) has improved during the past 20 years. These developments may be seen as a reaction to the growing accounting issues that arise when business unit success is primarily measured using conventional financial accounting metrics like return on investment (ROI) and earnings per share (EPS). The majority of business units have intangible assets, which are assets that are not reflected on the balance sheet but which could significantly affect how successfully they run. Traditional accounting techniques ignore numerous non-financial factors in favor of focusing solely on financial performance. Additionally, these conventional financial indicators emphasize short-term performance and may provide false signals for ongoing innovation and improvement, which are crucial for today's competitive climate.

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