Balance Score card (BSC), Beyond Budgeting and Economic value added Essay

Balance Score card (BSC), Beyond Budgeting and Economic value added (EVA) - Essay Example Hence, balanced scorecard provides a clear picture of the tangible and intangible assets, human resource, available equipments, customers range and quality, and the plans necessary for the financial growth of the organization. The under-analysis Coors’ case manifestly states that the scorecard can be applied for multiple purposes particularly in the following dimensions: Articulation of vision and mission statements on the basis of the business plans the management maintains in its mind for the successful implementation of the blueprint drawn out before the commencement of the corporate ventures Assessment of the activities and performances of the managers, employees and workers, and conferring of awards and prizes upon the workforce on showing outstanding performance as well as meeting with the targets determined by the management of the organization. Evaluation of success factors on the concrete foundations of the successes made by the company in past as well as the assessment of improvement plans in the projects met with failure or ended in fiasco in past Precise, complete and accurate presentation of all plans, performances, ambitions and targets to the management in few lines, so that they can evaluate the standing of their company without delaying their meetings with clients as well as other high scale corporate adventures (Answer A): Though budgeting is considered to be the blueprint of all financial matters involved into running the affairs of a company or an organization, yet Star Savers appears to be trying to stop the same. There are few specific reasons behind adopting the policy of surrendering from making and implementation of budget from all levels and scales. The company is of the opinion that budgeting serves as the great hurdle on the way to progress due to the very reality that it does not meet with the changing market scenario on the one hand, and is unable to