Practical Implication of Balance Scorecard on Essay

Practical Implication of Balance Scorecard on - Essay Example In their studies, they described the balanced scorecard as a management system for strategic planning that enables both profit and non-profit-organisations to state clearly their visions and underlying strategies and then transform them into actions. Smith (2005) in his studies described the balanced scorecard as a performance management tool that is used by organisations to align their activities along with their strategy and vision, secondly, to improve external and internal communication of the organisations and thirdly to monitor performance against the sets goals/ objectives. The report will use the Apple Inc as the case study and it is of essence to note that Apple Inc is largely an information and technology company that mainly specializes in designing, manufacturing, and selling of computer hardware and software, and consumer electronics such as personal computers, phones and television pads, among others. The company presently, has its headquarters at the state of California in the United States of America but it has a wide branch network of over 300 stores located in 14 countries across the world. According to OGrady (2008), Steve Jobs, Steve Wozniak, and Ronald Wayne originally formed the company in 1976 and by 1980; the company marked a major milestone by being listed at the stock exchange. Mr. Arthur Levinson as the chairperson currently heads Apple Inc while Mr. Tim Cook is the chief executive officer of the company. The critical analysis of the critical implications of the balanced scorecard in Apple Inc will help to explain how the management system contributed to the company’s current success and how it intendeds to further propel the company into greater success. The charts below demonstrate how each of these products and others performs or sells in the market in terms of the revenue they generate, and the revenue generated by the company from different regions or markets where it has