Using the Balanced Scorecard in the Vietnam Bank for Agriculture and Rural Development

Abstract

The balanced scorecard gives managers a more balanced view of the entire organization's operations, providing a basis for selecting performance indicators that help managers evaluate the effectiveness of the organization. comprehensively execute the strategy while linking short-term goals with long-term strategy and vision. As one of the banks with a large market share, Vietnam Bank for Agriculture and Rural Development (Agribank) needs to build a balanced scorecard as a strategic management tool. The establishment of a balanced scorecard at Agribank should be approved by senior managers for all employees in the bank, with the support of the information technology system, it is certain that the balanced scorecard will be a strategic management tool to help the bank achieve its strategic goals and gain a long-term competitive advantage to become a bank with a large market share in Vietnam.