Since measurements will help in all the working units of an organization to monitor the growth and performance. The common areas that require this measurement system such as the balanced scoreboards are customers, employees, stockholders, suppliers, and communities. It enables the management system to make their vision clear over the functional areas and improve their strategy and apply them practically. To analyze the reasons behind why do the UK authorities adopt this method of measurement and also find out the comparative results of the previous methods adopted in their management with that of the results gained through the adaptation of scoreboards Today’s business and management fields require new and innovative approaches to cope up with the existing competence throughout the world. There are many companies that work with the support of collective investments. This has lead to the instability of markets and capital losses and the range of management in those collective investment companies, financial sectors, and industries. A collective investment company does not always refer to a place of the attractiveness of the management, in reality, the problem of performance management appears in times of crisis such as diversified portfolios and volatility. becomes a compulsory requirement for the executives and the employees to achieve the strategic development. Based on these drawbacks the Balanced Scorecards or Scoreboards was adopted.
Implementation and Effectiveness of Using Balanced Scoreboards