Balanced Scorecard for the Execution of Strategies in Australian Economy

DOI

10.2991/aebmr.k.220502.042How to use a DOI?

Keywords

Organizational Planning; Corporate Strategic Planning; Balanced Scorecard; Mixed Economy Company; Management Control System

Abstract

As potential international trade risks increase, such as political risk, financial risk, and the risk of Covid-19. The study presented in this article examined the balanced scorecard (BSC) as a component of a management control system for the purpose of executing plans in a big mixed economy business. Over the past decades, the Balanced Scorecard (BSC) model has aided companies in establishing activities that are linked with a value-creating strategy. Typically, BSC was originally described as an achievement assessment framework critical to strategy implementation (SI), before developing into a strategic management program. Additionally, BSC works to fulfill the anticipations of shareholders, employees, customers, and to enhance service, internal procedures, training, and innovation. The firm’s ownership structure balances the interests of conventional shareholders with those of the administration. The study is innovative in that it analyzes BSC usage and contributions in order to convert a corporate’s strategy into set targets linked with the four BSC viewpoints: financial, learning and development, process improvement, and customer.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Hong Zhong
PY  - 2022
DA  - 2022/05/16
TI  - Balanced Scorecard for the Execution of Strategies in Australian Economy
BT  - Proceedings of the 2022 International Conference on Urban Planning and Regional Economy（UPRE 2022）
PB  - Atlantis Press
SP  - 231
EP  - 234
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220502.042
DO  - 10.2991/aebmr.k.220502.042
ID  - Zhong2022
ER  -