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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Implement Business Process Management and Balanced Scorecard to drive improvement to your organization.
Balanced Scorecard acts as performance management tools that monitor and measure the expected outcomes explicitly to measure eight (8) critical dimensions of Sarawak Civil Service (SCS) as stated in SCS 10-20 Action Plan.
The widespread adoption of the Balanced Scorecard is due in part to its flexibility.
This successful use of the Balanced Scorecard by researchers and managers from different fields indicates that it is possible to combine performance measures related to different aspects of a company into only one scorecard.
Phases of Balanced Scorecard's can be evaluated in three periods (Speckbacher et al., 20003; Lawrie&Cobbold, 2004).
The thesis focuses on the management system called the Balanced Scorecard and asks whether or not this management system is an effective model of communicating the strategy in knowledge-intensive firms.
“I am convinced that implementing the Balanced Scorecard has helped us to deliver record-breaking progress over the past 5 years.” -Bill Padfield, CEO, Data Dimensions
This marks eXampleCG's entry to the IT and BPO vertical for the Strategy and Analytics practice helping clients to Enterprise wide Balanced Scorecard deployment.
Balanced Scorecard in Mixed Petroleum Companies of the Maracaibo Municipality, State of Zulia
The seminal Harvard Business Review article by Robert Kaplan and David Norton, "The balanced scorecard: measures that drive performance", was published in 1992, but that was not the start of the story.
A 2009 study, sponsored by IMA (Institute of Management Accountants) and reported in the May 2010 issue of The Accounting Review, investigates the motivated reasoning managers succumb to when evaluating strategy, as well as how to overcome this bias by employing a popular management accounting tool, the balanced scorecard. (See William B.

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