Unit 3 DB - Lorraine Huff Unit 3 Discussion Board Balanced...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Lorraine Huff Unit 3 Discussion Board April 11, 2010 Balanced Scorecard The balanced scorecard is a strategic planning and management system. Its early use was a simple performance measurement framework, however now it enables organizations to clarify their vision and strategy and translate them into action and to provide feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise. The balanced scorecard suggests that organizations should be viewed from four perspectives. The first perspective is The Learning & Growth Perspective. This perspective includes employee training and corporate cultural attitudes related to both individual and corporate self- improvement. Next is The Business Process Perspective. This perspective refers to internal business processes that allow managers to know how well their business is running, and whether
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/18/2012 for the course ECON 421 taught by Professor Kimberlybennett during the Spring '10 term at American InterContinental University.

Ask a homework question - tutors are online