A Study Of The Balanced Scorecard Plan For XL Company

Modern businesses depend upon measurement and analysis of performance. Measurements must derive from the company's strategy and provide critical data and information about key processes, outputs and results. The BSC is a structured approach to performance measurement and performance management that links the organization's strategic thinking to the activities necessary to achieve desired results.The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise.The author introduces theory and exercise of the balanced scorecard in the first part of this article (1st & 2nd chapter). The balanced scorecard plan for XL company is detail show in the third chapter. In the last chapter, the author gives some advices to the BSC plan for the other companies in china.Creating the BSC model which is the conclusion as follow:·Strategy Analysis Process·Strategic Choice/Evaluation·Strategic Implementation·Strategic Control/feedback...