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STRATEGIC CONTROL AND REVENUE GENERATION: A CRITICAL SUCCESS FACTOR IN LOCAL GOVERNMENT USING THE BALANCED SCORECARD
ABSTRACT
Revenue generation is a major source of income to Nigeria and the States in general, even though it is said to be dwindling due to weak controls in the systems of revenue generation and workers attitude. The objective of the study includes examining how the application of strategic control and the balanced scorecard can transform the attitude of workers with a view to enhancing overall organization goal. It highlights the requirements of IAS 18 on revenue recognition. The study is descriptive and adopted the desk research approach, using secondary sources of data such as journals, text-books, accounting standards, government papers. The study found that there is need for re-engineering the whole system through strategic controls and using the balanced scorecard as an appraisal system for staff performance which when properly linked with organization objective will enhance increased revenue generation. The study concludes that the performance appraisal system currently in use is counter- productive and subject to abuse thus, it should give way to the use of the balanced scorecard which is goal-directed.
Key Words: Strategic Control, Balanced Scorecard, Revenue generation, Re-engineering.