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Most companies operational ad management control system are built around nancial measure and targets. which bear little relation to the company's progress in achieving long-
\"Most companies\" operational ad management control system are built around nancial measure and targets. which bear little relation to the company's progress in achieving long- term strategic objectives. Thus the emphasis most companies place on short-term nancial measures leaves a gap between the development of a strategy and its implementation. Managers using the balanced scorecard do not have to reiy on short-term nancial measures as the sole indicators of the company's performance\". {Kaplan 3: Norton, Harvard Business Review, 1996) Required: a) Describe how the balanced scorecard can help an organization to achieve its strategic objectives. (10 marks} b) Compare and contrast balanced scorecard with traditional performance measurement system. (7 marks)
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