Balanced Scorecard

Business & Finance, Human Resources & Personnel Management, Skills, Management & Leadership
Cover of the book Balanced Scorecard by Ade Asefeso MCIPS MBA, AA Global Sourcing Ltd
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Author: Ade Asefeso MCIPS MBA ISBN: 9781291459913
Publisher: AA Global Sourcing Ltd Publication: June 17, 2013
Imprint: http://www.lulu.com/shop/ade-asefeso-mcips-mba/balanced-scorecard/paperback/product-21074854.html Language: English
Author: Ade Asefeso MCIPS MBA
ISBN: 9781291459913
Publisher: AA Global Sourcing Ltd
Publication: June 17, 2013
Imprint: http://www.lulu.com/shop/ade-asefeso-mcips-mba/balanced-scorecard/paperback/product-21074854.html
Language: English

The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and non-profit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.

The key problem identified in business is that many companies tended to manage their businesses based solely on financial measures. While that may have worked well in the past, the pace of business in today's world requires more comprehensive measures. Though financial measures are necessary, they can only report what has happened in the past; where a business has been, but not where it is headed. It is like driving a car by looking in the rear-view mirror.

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The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and non-profit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.

The key problem identified in business is that many companies tended to manage their businesses based solely on financial measures. While that may have worked well in the past, the pace of business in today's world requires more comprehensive measures. Though financial measures are necessary, they can only report what has happened in the past; where a business has been, but not where it is headed. It is like driving a car by looking in the rear-view mirror.

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