In the “Why It Matters” section of the Control module, you met Dana, whose goal is to become a project manager. She has completed her project management training and learned about the balanced scorecard. She is convinced her company needs more than just financial or budgetary control, and she believes the BSC approach would be better.
In this written assignment, you will compare basic financial controls to the balanced scorecard (BSC) method explained in your reading. The following steps will help you prepare for your written assignment:
- Thoroughly read the Control module.
- Carefully consider the financial tools described in the reading. Consider the four typical components of the balanced scorecard.
Write a three-paragraph essay describing the value and benefits of using a balanced scorecard for management control. Compare and contrast the BSC approach to financial controls. Do you agree with Dana that the BSC approach is better than using financial controls alone? Why or why not? Your essay must include three properly referenced and defined terms from the module reading. For example, you could elaborate on how BSC provides information for anticipating the future (proactive control).
In addition to the text, you are encouraged to research management control tools using reliable and properly cited Internet resources. You may also draw from your personal work experience with appropriate examples to support your references.
Your written assignment will be graded using the Written Assignment Rubric (the Microsoft Word version of the Written Assignment Rubric is available here). Please review and keep it in mind as you prepare your assignment. Each component is weighted as follows:
10% Organization and Format
Adequate: Writing is coherent and logically organized, using a format suitable for the material presented. Transitions used between ideas and paragraphs create coherence. Overall unity of ideas is supported by the format and organization of the material presented.
Adequate: All required questions are addressed with thoughtful consideration reﬂecting both proper use of content terminology and additional original thought. Some additional concepts are presented from properly cited sources, or originated by the author following logic and reasoning they’ve clearly presented throughout the writing.
40% Development – Critical Thinking
Adequate: Content indicates original thinking, cohesive conclusions, and developed ideas with suﬃcient and ﬁrm evidence. Ideas presented are not merely the opinion of the writer, and clearly address all of the questions or requirements asked with evidence presented to support conclusions drawn.
10% Grammar, Mechanics, Style
Adequate: Writing is free of spelling, punctuation, and grammatical errors, allowing the reader to follow ideas clearly. There are no sentence fragments and run-ons. The style of writing, tone, and use of rhetorical devices is presented in a cohesive style that enhances the content of the message.