Russian Engineering Academy

A mannequin for applying Balanced Scorecard to Chinese SMEs Jin Liu Jiehui Yang wariness School of Wuyi University, Jiangmen, Guangdong 529020, China Abstract Kaplan and Nortons concept of the equilibrize notice (BSC) has received wide acceptance by some(prenominal) academics and practitioners. but there was little research on its adaptability to the humbled and medium-sized enterprises (SMEs) in china. According to our investigation on SMEs in osseous tissue River Delta from July to September of 2005, a BSC cloth was created based on the bare characteristics of Chinese SMEs, such as no strategy, poor executive director ability and lack of capital. The framework included atomic number 23 perspectives. as well as balance scorecards four typical headstone perspectives, the paper proposed a nonher authorised perspective: relationship finance and presidential term support. Finally, the strategy be was used to refine the framework. Thus, the framework not only(preno minal) included the gain of typical BSC, provided also can help SMEs to solve the riddle of capital. What is more, the framework can be used to remind the managers to afford caution to research and development (R&D), cash flow, the fast and economical good and the mentors for guiding employees. Key words balanced scorecard; gloomy and medium-sized enterprises; strategy map; relationship financing; government support.

1 Introduction The Balanced Scorecard was formally presented by Kaplan and Norton in 1992, which is not only a death penalization evaluation method provided also a performance anxiety sys tem that combines the performance measures a! nd the organizational strategy. It transforms the organizational visions and strategies into the measures from four perspectives: finance, customers, privileged process, learning and growth. Kaplan and Norton apprised that long-term organizational excellence can be achieved only by taking a broad, holistic and balanced begin but not by focusing whole on financials. Using the BSC approach, managers are encouraged to take a...If you necessity to posit a full essay, order it on our website: OrderCustomPaper.com

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