Buy research paper on Measuring Performance

The benefits of a balanced scorecard approach for Jengo Ltd
What is a balanced scorecard approach? It’s a customer-based planning and process-improvement system that aimed at focusing and driving the change process.
“Balanced scorecard translates strategy into an integrated set of financial and nonfinancial measures that communicates the organizational strategy to employees and provides them with feedback on which they can take action to achieve their objectives.” (Clair and Reich, 2002)
Among the benefits of balanced scorecard approach are the following:
• Successful implementation of organizational strategies,
• More updated organizational strategies,
• Improved communication process within organization
• Better coordination of individual goals and the organization’s goals and strategies.
• Better coordination of operating plans and the company’s strategy.
• Performance evaluation measurement

Measuring performance is aimed to improve performance and researches give a few reasons to adapt performance measurements.
First of all, it will help to evaluate how well the company and managers are performing. In order to make an evaluation, clear objectives should be set. Measuring performance helps to control managers as well.
Then, we should mention the budget issue, because the budget can be a tool of performance improvement. The measuring is made by determination of performance (output and outcome achieved are need to be studied) buy research paper
Also, measuring performance can motivate, for example by setting great goals and giving a sense of accomplishment. It also helps managers to learn and to improve general performance.
The four areas of balanced scorecards include: Financial Perspective, Customer Perspective, Internal Business Process, and Learning Process and Growth Perspective.
In regards to Jengo Ltd, we can suggest two indicators from quadrant called Internal Business Process: targets and measures. Jengo Ltd will get clear formulated business goals (for example to plan a certain sales figure for the next financial period) and will be able to measure the sales results accordingly.
From quadrant called Financial Perspective: Jengo Ltd will set a plan for certain annual revenue (for example, the certain sales figure for the next financial period) and will be able to measure the results by accomplishing this goal.
Jengo Ltd may create a plan to arrange the training for certain amount of its employees as a part of Learning Process quadrant and will measure the results of this initiative.
And finally, in a Customer Perspective quadrant, company will plan to build the brand equity and knowledge among the customers by the end of the next financial period and will be ble to measure it with a help of special customer researches.
Conclusion
In this report, the definitions of the major methods of company’s environment were given.
The usage of these methods are required for successful budgeting process, which we need to manage in order to ensure Palisade plc board of directors in reliability of planning and control processes in Jengo Ltd.
Therefore, we’ve studied such methods SWOT analysis, PESTEL analysis and Porter’s Five Forces analysis. As a result, the four elements of Porter’s Five Forces analysis and one element from both SWOT analysis and PESTEL analysis were suggested to use for the company that operates in the fashion retailing business.
The most crucial among them are the intensity of competitive rivalry, the bargaining power of customers (buyers) and, of course, opportunities for the company.
The benefits of budgeting for Jengo Ltd were also reviewed in this report and the conclusion was made that the budgeting is highly advisable for any company and it ensures that all the processes in the company become clearer and are able to be planned in advance. It is especially recommended for the company that has to ensure the potential investor in the good business perspective of this company.
And finally, we’ve researched the benefits of a balanced scorecard approach for Jengo Ltd that helps to measure the performance of the company, by setting the goals and sharing it with personnel.

References
Clair G. and Reich M (Jun. 2002), Knowledge Services: Financial Strategies and Budgeting. Information Outlook. Volume: 6. Issue: 6.. Page p.n.: 1+.
Garner R., (Nov. 2005) “Swot” Tactics: Basics for Strategic Planning, FBI Law Enforcement Bulletin. Volume: 74. Issue: 11. p.n.: 17+.
Fleming M. (Mar./Ap 1995), A Budget Model for a Small Manufacturing Firm, Industrial Management. Volume: 37. Issue: 2. p.n.: 1+.
Make Sure You SWOT Up to Survive & Thrive – Keep Your Business Booming, (Nov. 17, 2009) The NewsMail (Bundaberg, Australia)
PESTEL analysis of the macro-environment (2007), Oxford University Press,