balanced scorecard

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Balanced Scorecard

A type of internal audit. A balanced scorecard collects data and reports to management on four areas: learning and growth, business processes, customers, and finance. The balanced scorecard helps an organization monitor performance and, if necessary, make improvements.

balanced scorecard

a tool for setting and communicating corporate goals and for measuring corporate performance. The balanced scorecard incorporates four groups of goals and derived performance indicators: External Indicators (financial goals and measures); (customer goals and measures); Internal Indicators (internal business process goals and measures); (learning and growth goals and measures).

The balanced scorecard approach balances traditional financial measures such as net profit and return on capital with customer measures such as market share and customer satisfaction; business process measures such as productivity and stock turnover; and learning and growth goals such as employee turnover and training. Balanced scorecards provide a broader set of performance measures and related management systems for judging overall performance, than financial targets alone. See BUSINESS STRATEGY.

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Here in Qatar, with one of the best-growth economies in the world, the Balance Score Card has been a key tool used to 'manage'.
The balance score card is a technique where business can transform and effective information management is possible.