The balanced scorecard: a necessary good or an unnecessary evil?
(A solution to set better performance measurement)
A Coggle Diagram about Solved problem of BH (Problem: Short term measurements e.g. return on investment which cannot bring long term revenue, Problem: Lack of analysis of competitive resources and competencies e.g. VRIO analysis, Problem: Only use of financial KPIs and Problem: Lack of communication among hotel managers and finance managers), Context (Balanced scorecard as 4 perspectives of operational measures to add value to business, The article demonstrates that the Balanced Scorecard is necessary for today's organisations and The steps of the value creation under balanced scorecard (cause-and-effect relationships)), Limitations (No primary data collection, Lack of their own empirical studies and evidences and limited accuracy of valuation), Methodology (Business case studies and Literature review) and Main findings (Results)