Performance Management and Control

Discuss the advantages and disadvantages of using a balanced scorecard approach to manage the implementation of corporate strategies
Essay topic:  “Management accountants design reports to help managers track progress in implementing strategy. Many organizations, such as Allstate Insurance, Bank of Montreal, BP, and Dow Chemical, have introduced a balanced scorecard approach to manage the implementation of their strategies”. (Horngren, 2009, p. 466).

Discuss the advantages and disadvantages of using a balanced scorecard approach to manage the implementation of corporate strategies.

Clearly outline, support and justify your position by reference to relevant literature.

Total words: 1100 words
Before starting the essay you should read the BX 3013 Essay Marking Guide (attached).

To successfully complete the essay students should review material from the following sources:

1.    Relevant chapters of the textbook Cost Accounting: A Managerial Emphasis 13e by Horngren et al.
2.    The website http:// www.balancedscorecard.org
3.     Journals (see list below). These can be accessed as e-journals via the library web page.  Refer to LSSC for study skills support on researching journals.
4.    On-line databases (click ‘Databases’ on the library web page). A good database to search is ABI/INFORM global.
5.    Various books sourced via the library catalogue.

Some useful journals to search include:

1.    Accounting Horizons
2.    Journal of Cost Management
3.    Journal of Management Accounting Research
4.    Management Accounting Research
5.    Management Accounting
6.    Charter (The Institute of Chartered Accountants)
7.    In the Black (CPA Australia)

BX 3013 – ESSAY MARKING GUIDE

This guide will be used when marking your essay.  Please read this guide before you start writing.

ORGANISATION
•    Introduction paragraphs which clearly indicate direction, convey purpose, clarify and assumptions and give the scope of paper:
•    Layout of paper – clear, direct and logical:
•    Clear links made between sections, major issues and stated purpose:
•    Clear summaries and concluding paragraph:
(Circle which term is an appropriate description)    Mark out of:
Excellent    Very Good    Good    Fair    Weak    (/30)

DISCUSSION/ARGUMENT
•    Shows evidence of relevant research and reading:
•    Statements are accurate, clear, and well supported:
•    Main issues are well addressed:
•    Relevant information is used:
•    Purpose of the paper always evident:
•    Consistency of argument and language:
(Circle which term is an appropriate description)    Mark out of:
Excellent    Very Good    Good    Fair    Weak    (/40)

WRITTEN EXPRESSION
•    Well written:
•    Sound sentence construction:
•    Grammatically sound:
•    Well-proofed, absence of spelling errors:
(Circle which term is an appropriate description)    Mark out of:
Excellent    Very Good    Good    Fair    Weak    (/20)

REFERENCING
•    Follows APA referencing system in the body of the work and in reference list:
•    References support argument, are relevant:
•    Sources properly acknowledged:
(Circle which term is an appropriate description)    Mark out of:
Excellent    Very Good    Good    Fair    Weak    (/10)

FINAL GRADE