Commerce and Management
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Item The Next Generation of Balanced Scorecard.(8th International Conference on Business & Information ICBI – 2017, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2017) Askarany, D.Balanced Scorecard (BSC) is one of the most talked about performance measurement systems of the past three decades which focuses on both financial/finance and none financial perspectives of organizations. So, it is an important topic to be discussed in the field of finance in related to any region including China. Since its first introduction in 1990,s, there have been some important changes to promote and facilitate its adoption in practice such as the introduction of the Second Generation and the Third Generation of Balanced Scorecard. However, many current and potential adopters of the BSC are not convinced that the technique is able to present a comprehensive picture of organizations’ performance. This paper is aiming to address some of the shortcomings of the BSC in practice and provide some suggestions for its improvement which can be called the next generation of the balanced scorecard.Item Performance measurement and managerial incentives of manufacturing companies in Sri Lanka(Department of Accountancy, University of Kelaniya, 2015) Hearth, H.M.D.M.Performance measurement system can play a key role in communicating, evaluating and rewarding the achievement of strategic objectives (Christopher D. Ittner, 1997). Many manufacturers have instituted programs to reduce costs and improve their operations but frequently fail to evaluate whether their operational changes achieved their desired results (Scheer, 2006). An active performance measurement system can help to determine areas to improve before invest or money (Touche, 1994). Firms adopt performance measurement systems typically classified as financial and non-financial measurements (Simmons, 2000).Some manufacturers even use performance measurements to determine compensation and incentive bonuses (Ittner, 1997). This paper mentions to assess the performance measurement in manufacturing companies and plan the management incentives like the adding the bonuses for basic salary of managers. Company is using the financial and non-financial measurements including return of investment, residual income, economic value added, return of sales, and balanced scorecard for the analysis the performance of the company. Companies exercise the different type of financial and non-financial performance methods for purpose of determine annual incentives plan of manufacturing companies. This method is important to improve of business activities and to keep the skillful management for foreseeable future.