Russian Engineering Academy

A mannequin for applying Balanced Scorecard to Chinese SMEs Jin Liu Jiehui Yang oversight School of Wuyi University, Jiangmen, Guangdong 529020, China Abstract Kaplan and Nortons concept of the equilibrise identity card (BSC) has received wide acceptance by some(prenominal) academics and practitioners. that there was little research on its adaptability to the humbled and medium-sized enterprises (SMEs) in china. According to our investigation on SMEs in osseous create from raw material River Delta from July to September of 2005, a BSC cloth was created based on the pleonastic characteristics of Chinese SMEs, such as no strategy, poor decision maker director ability and lack of capital. The framework included cinque perspectives. as well as balance scorecards four typical headstone perspectives, the paper proposed a nonher of the essence(p) perspective: relationship finance and presidential term support. Finally, the strategy stage was used to refine the framew ork. Thus, the framework not only(prenominal) included the vantage of typical BSC, provided also can help SMEs to solve the bother of capital. What is more, the framework can be used to remind the managers to apply caution to research and development (R&D), cash flow, the fast and effectual good and the mentors for guiding employees. Key words balanced scorecard; gloomy and medium-sized enterprises; strategy map; relationship financing; government support.

1 Introduction The Balanced Scorecard was formally presented by Kaplan and Norton in 1992, which is not only a death penalty evaluation method provi ded also a performance focal point system t! hat combines the performance measures and the organizational strategy. It transforms the organizational visions and strategies into the measures from four perspectives: finance, customers, inhering process, learning and growth. Kaplan and Norton apprised that long-term organizational excellence can be achieved only by taking a broad, holistic and balanced begin but not by focusing entirely on financials. Using the BSC approach, managers are encouraged to take a...If you unavoidableness to posit a full essay, order it on our website: OrderCustomPaper.com

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