Acta Technica Corviniensis

ACTA TECHNICA CORVINIENSIS – BULLETIN of ENGINEERINGSetting the strategy is time-consuming, but itdoes not use so much time as finding anddefining the performance measurementindicatives for each perspective does. Usually,people hardly agree on what and how is beingmeasured.Moreover, a large number of people areinvolved in building a BSC, and these people’sapproval is very important both for building andimplementing the instrument. It can happenthat a Balanced Scorecard is well-built, but itsdisapproval by the employees, as well as theirlack of involvement will make the modeluseless. There is also the risk of too manyindicatives being selected. This is a problembecause it is very difficult to use and interprettoo many results.Before the described perspective, we need toolsto describe the intangible assts, the BalancedScorecard by means of elaborating an strategicmap, relates and transforms these intangiblesassets into tangibles, as money. The BalancedScorecard through his four perspectives, usesindicators to describe the intangible assets,therefore we can monitor and control theintangible activities which add value to thecompany.Fig. 2. The BSC strategic maps and the organizationsassets [4]The intangible assets are the most importantsources of the organization that grantcompetitive advantages to other companies. Theorganization that has an excellent operativeprocess, knows their segment in the market andpossess the knowledge to develop a uniqueproduct, and has the ability of motivating theiremployers, will have a guaranteed success.The tangible assets are considered the goods ofmaterial nature they can be perceived by senseslike :Row material and stocksThe furnitureThe machinesThe landsThe moneyThe intangible assets are considered the goods ofimmaterial nature:The science of knowing what to doOur relations with the clientsOur operative processesThe technology of information anddatabases.Capacities, abilities and innovations ofthe employers.Certain indicatives can by objective, otherssubjective. The subjective indicatives, bydefinition, involve the judgment of a person, sothere are chances for them to be wrong. There isalways a question, namely “must the indicativesset subjectively be used”?The Balanced Scorecard is a managementsystem, not only a measurement one whichallows the organization to set its strategy andvision and to put them into practice. Theinstrument offers the feedback of the businessinternal process and external indicatives, insteadof wishing to continuously increase the strategicperformances and results. After being fullydeveloped, the Balanced Scorecard instrumenttransforms the strategic planning from anacademic exercise into a nervous center of theorganization.In terms of Customer Satisfaction, the approachanalyzes the organization’s ability to providequality goods and services and their effectivedelivery, while the financial perspective of theBalanced Scorecard generally represents theclear long-range targets. Now in order to lead tothe success of the above two mentionedperspectives, the internal business indicatorprovides data regarding the internal businessresults against its measures. The fourth and thelast major perspective concerns with learningand growth, which aims to align all of the abovetoward an overall organization’s success.2008/ACTA TECHNICA CORVINIENSIS/Tome I 61