Balanced Scorecard: A Paradigm Measure Of Business Strategy And Firm Performance

Abstract

Abstract:- Due to intensity of characteristics comprised in today’s globalized markets whereby companies face fierce competition on a gl obal scale which compel them to drive strategy to achieve firm performance objectives such as long-term profitability and customer loyalty. Balanced scorecard has become increasingly important strategic management tool that translates visions into profitable actions, particularly focusing on intangible assets such innovation, value chain, employee skills and knowledge levels, customer and supplier relationships, which are critical in providing the much-needed cutting-edge to an organizational setting. Therefore, this theoretical paper attempts to ascertain whether the implementation of a balanced scorecard as a paradigm measurement tool contributes to the improvement and synergy of business strategy and firm performance.