A balanced scorecard is a performance monitoring tool, consisting of design methods (financial and non-financial measures) that keep track of the organization’s strategy and observe the consequences of an action in relation to the company’s vision. The scorecard is not to be used as a strategic tool on its own, rather is co-existent with already established strategic planning systems. The Balanced Scorecard framework creates an equilibrium between external and internal measures, financial and non-financial measures and performance outcomes and subsequent tools for future outcomes by clearly defining perspectives that govern its success (Noreklit 2000). The interdependence of ...
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Executive Summary
This report is intended to give a critical overview of the strategic position of Essar Energy by making an analysis of the current position of the company by the use the balanced score card. An analysis is made on the three non financial aspects; the customer perspectives, the internal process perspectives and the learning and growth perspectives in relation to the financial performance and position of the company to draw a conclusion on the strategic direction that the company ought to make so as to successfully achieve its stated strategic vision. Essar Energy’s financial performance in the financial period ending ...
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