What are Balanced Scorecards in Total Quality Management?

Learn Balanced Scorecards definition in total quality management with explanation to study “What are Balanced Scorecards”. Study balanced scorecards explanation with TQM terms to review total quality management course for online MBA programs.

Balanced Scorecards Definition

Balanced Scorecards Explanation

While measuring performance of an organization, some tools and techniques are used. Balanced scorecard is one of them. A balanced scorecard is a type of spreadsheet that includes all the information about different performance measures and is communicated to the management weekly, monthly or annually. An advantage of balanced scorecard is that it tends to integrate all the functions of the organization including finance, operations, process performance, customers and employees etc. Balanced scorecards can be color coded. This helps in understanding which of the objectives and goals are met or where the organization's performance lags behind. Balanced scorecards are used to identify and implement improvements.

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