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Essay text:
The Balanced Scorecard allows executives to view a company’s performance from several perspectives simultaneously. It provides a balanced picture of current operating performance as well as the drivers of future performance. The scorecard identifies four key perspectives:
Financial Perspective
Customer Perspective
Internal Business Perspective
Innovation and Learning Perspective.
The Gartner research group projects that at least 40% of Fortune 1000 firms will implement Balanced Scorecards by the year 2000. (BALANCED SCORECARDS- just another fad? By Robert Fabian). Every firm will focus on different Key Performance Indicators (KPI), but all organizations should measure their performance by paying attention to the four perspectives identified above...
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