ADMS 1010 Study Guide - Quiz Guide: David Korten, World Food Programme, Global Financial System

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Troy Young

Document Summary

The authors of this article are strongly promoting managing through goal-orientation, as any company should be. An organization must know what it needs to achieve in order to do it and this is something that kaplan and norton are trying to illustrate through this article. It is fairly clear that many organizations have failed through the traditional measurement systems which are rooted in financial functions. It is a traditional way of measurement and self-reflection which is no longer applicable in today"s markets. The authors are promoting this way of management through this scorecard that reflects 4 important factors pertaining to an organization. The authors also claim that by combining the financial, customer, internal process and innovation, and organizational learning perspectives, the balanced scorecard helps managers understand, at least implicitly, many inter-relationships. Any organization would do well if given a proper method of monitoring and the balanced scorecard is a great and highly effective system that delivers just that.