As an Amazon Associate I earn from qualifying purchases.

What is Balanced Scorecard in Strategic Management? PDF | Download eBooks

Learn Balanced Scorecard definition in strategic management with explanation to study “What is Balanced Scorecard”. Study balanced scorecard explanation with strategic management terms to review strategic management course for online MBA programs.

Balanced Scorecard Definition

  • A performance measurement tool that looks at more than just the financial perspective.

    Management by Stephen P. Robbins, Mary A. Coulter



Balanced Scorecard Explanation

A fair scorecard is an exhibition metric utilized in vital administration to recognize and improve different inward elements of a business and their subsequent outer results. It is utilized to quantify and give criticism to associations. Information accumulation is essential to giving quantitative outcomes, as the data assembled is translated by supervisors and administrators, and used to settle on better choices for the association. The reasonable scorecard is utilized to strengthen great conduct in an association by disengaging four separate zones that should be broke down. These four zones, additionally called legs, include learning and development, business procedures, clients, and money. The decent scorecard is utilized to accomplish destinations, estimations, activities, and objectives that outcome from these four essential elements of a business. Organizations can without much of a stretch recognize variables preventing business execution and layout vital changes followed by future scorecards.

Keep Learning Strategic Management Explanations

What is Workforce Diversity?

Numerous organizations pride themselves on having a differing workforce, one that is comprised of people with a wide scope of ...

What is Operating Agreement?

Operating agreement is a key report utilized by restricted obligation organizations (LLCs) to layout the business' money related and utilitarian ...

What is Ego Strength?

Ego strength is the capacity of the sense of self to manage the requests of the id, the superego, and ...

What are Managerial Roles?

In completing the duties of arranging, sorting out, driving, and controlling, managers take on a wide range of jobs. A ...

What is Mission?

The mission articulation and statement of purpose are frequently confounded, and numerous organizations utilize the terms reciprocally. Be that as ...

What are Core Competencies?

Core skills are the assets as well as key focal points of a business, including the mix of pooled information ...