Balanced Scorecard Assignment

Balanced Scorecard Assignment - Running Head: Balanced...

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Running Head: Balanced Scorecard Assignment 1 Balanced Scorecard Jared Rollins BUS/475 January 24, 2011 Nels Holmgren University of Phoenix
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Balanced Scorecard 2 1.0 Introduction This essay will talk about how a balanced scorecard is used to assess the performance of a business in particular a industry unit. Prior to assessing the businesses performance, I will define the term balanced scorecard and also the underlying principle of the objectives selected for each perspective so as to guarantee that the evaluation of the businesses performance is irrefutable as well as consistent and similar to other businesses in the same trade. 1.1 Balanced Scorecard as a Measurement Tool From a common outline, balanced scorecard is a strategic planning and management system that is used comprehensively in businesses and industries, government as well as non-profit organizations worldwide. Amongst the benefits of a balanced scorecard it’s to line up business activities for vision and the strategy of the organization, perk up internal and external communications and to observe organization performance. Balanced scorecard is a broad-based measurement approach which incorporates financial and non-financial measures in an integrated system that links performance measurement and a
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Balanced Scorecard 3 business’s strategic goals. It is a performance measurement structure that added strategic non- financial performance measures to conventional financial metrics that gives a more ‘balanced’ view of organizational performance. The idea of balanced scorecard was coined in the early 1990’s and originated by Dr. Robert S.
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This note was uploaded on 04/11/2011 for the course BUS 475 taught by Professor Lessor during the Spring '09 term at University of Phoenix.

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Balanced Scorecard Assignment - Running Head: Balanced...

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