Business Frameworks and Management Concepts
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Balance Scorecard Methodology
- It is the only one since the 1960s F
- Many standard management tools F
- Balance Scorecards are "strategic" T
Benefits of Using the BSC Methodology
- For performance monitoring and evaluation Public Sector
- To include non-financial measures Private Sector
- This should be developed first, then with a conscious understanding of what needs to be achieved Strategic linkage mode
- In the 1980s, organizations F
- A sustainable solution to the difficult task F
- These are linked together in the two perspectives Activities and outcomes
- This facilitates the articulation and development A workshop approach
- A 2005 survey of companies that use tools T
- The social perspective is one F
Steps in Using the BSC
- Select the strategic objectives 2
- Select financial