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The Balanced Scorecard: Theory And Management Approach

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Recommended: The application of balanced scorecard

7.1. Organizational Performance using (The Balanced Scorecard):
In the past, most organizations relied largely on financial accounting measures as the primary basis for measuring organizational performance, but today 's companies realize that a balanced view of both financial and operational measures are needed for successful organizational control. Organizational performance defined as the ability of an organization to attain its goals and objectives by optimum utiliza¬tion of resources (Nayak & Sahoo, 2015).
The Balanced Scorecard is a theory and management approach first proposed in the Harvard Business Review by Robert S. Kaplan & David P. Norton (1995). A subsequent book, The Balanced Scorecard, was published following …show more content…

Chib (2012) defined Quality of Work Life (QWL) as "The Quality of the relationship between the man and task at workplace". QWL refers to the relationship between a worker and his environment, adding the human dimension to the technical and economic dimensions within which the work is normally viewed and designed. Chib (2012) added that QWL focus on the problem of creating a human working environment where employees work cooperatively and achieve results …show more content…

It has been conceptualized as a general attitude toward the job.

7.2.1. Dimensions of Quality of Work Life: (Lawler’s, 1982; Rethinam, et al., 2008; Gibson, Switch, Daneli and Paskeh, 2000; Cunningham, and Eberle, 1990) have presented concepts and definitions in light of the various approaches to quality of work life that can be categorized into 3 areas: dimensions of structural, dimensions managerial and social dimensions of quality of work life
• Structural dimensions: Salary, Wages, Benefits and Reward; Safety in working environment; Job Security; Attracting and retaining programs in organization.
• Managerial dimensions: Quality of Management and Supervision; Opportunity for Training Talents; Skills and occupational improvement; Feedback about the function; Participation in decision-making.
• Social dimensions: Social consolidation in Work environment; Social interaction.
Sirgy et al. (2001) developed a Scale to measure the quality of work-life (QWLS) of the employees. This scale contains seven areas of need: health and safety, economic and family, social needs, esteem, actualization, knowledge, and aesthetics

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