BALANCED SCORECARD

Running Head : Balanced Scorecard

Balanced Scorecard

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Most businesses , industry , government groups or non profit organizations worldwide , if not all would want to be able to calculate and monitor activities and events of their company . Business owners and managers need to compare and monitor if their performance as a company and a business matches the objectives and goals of the company for the benefit of a more stable and sustainable future in the long run or long term The balanced scorecard is

a strategic planning and management system that is used extensively in business and industry , government , and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization , improve internal and external communications , and monitor organization performance against strategic goals (Balanced Scorecard Institute

Balanced Scorecard has four perspectives that can benefit an organization , these are the following and their explanations : 1 Learning and Growth Pespective , this consists of corporate and individual enhancement that pertains to cultural attitude and work ethics as well as training and self development of employees . This perspective includes employee training and corporate cultural attitudes related to both individual and corporate self-improvement (Balanced Scorecard Institute ' Employees are the main resource of a company They are those who make the system work and help raise the value and maintain the company . Having devoted and well-skilled employees will aid the possibility of a company to succeed in the future or long-term ' Kaplan and Norton emphasize that 'learning...