Difference between revisions of "Balanced Scorecard"
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According to the [[Corporate Strategy by Lynch (4th edition)]], | According to the [[Corporate Strategy by Lynch (4th edition)]], | ||
:[[Balanced Scorecard]]. This uses strategic and financial measures to assess the outcome of a chosen strategy. It acknowledges the different expectations of the various stakeholders and attempts to use a 'scorecard' based on four prime areas of business activity to measure the results of the selected strategy. | :[[Balanced Scorecard]]. This uses strategic and financial measures to assess the outcome of a chosen strategy. It acknowledges the different expectations of the various stakeholders and attempts to use a 'scorecard' based on four prime areas of business activity to measure the results of the selected strategy. | ||
| + | According to the [[Strategic Management by Parnell (4th edition)]], | ||
| + | :[[Balanced Scorecard]]. An approach to measuring performance based on an array of quantitative and qualitative factors, such as ROA, market share, customer loyalty and satisfaction, speed, and innovation. | ||
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[[Category: Strategic Management]][[Category: Articles]] | [[Category: Strategic Management]][[Category: Articles]] | ||
Revision as of 20:56, 11 July 2020
Balanced Scorecard This uses strategic and financial measures to assess the outcome of a chosen strategy. It acknowledges the different expectations of the various stakeholders and attempts to use a 'scorecard' based on four prime areas of business activity to measure the results of the selected strategy.
Definitions
According to the Corporate Strategy by Lynch (4th edition),
- Balanced Scorecard. This uses strategic and financial measures to assess the outcome of a chosen strategy. It acknowledges the different expectations of the various stakeholders and attempts to use a 'scorecard' based on four prime areas of business activity to measure the results of the selected strategy.
According to the Strategic Management by Parnell (4th edition),
- Balanced Scorecard. An approach to measuring performance based on an array of quantitative and qualitative factors, such as ROA, market share, customer loyalty and satisfaction, speed, and innovation.
