balanced scorecard

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balanced scorecard

A document that translates an organisation’s mission and strategy into a comprehensive set of performance measures which provide the framework for a strategic measurement and management system. The balanced scorecard retains an emphasis on achieving financial objectives, but also includes the performance drivers of those financial objectives. The scorecard measures organisational performance across four balanced perspectives:
(1) Financial (i.e. cost efficiency)
(2) Customers
(3) Internal business processes
(4) Learning and growth (i.e. making changes and sustaining improvements).
References in periodicals archive ?
C Omran Zbeida expressed his satisfaction for the participants' ability to quickly grasp the concept of the balance scorecard.
At some point it may be necessary to return to the essential performance measurement questions that gave rise to the whole process, or has the balance scorecard found its niche in the strategic management community?
The balance scorecard is accessible to board members and is the focus of a performance report at the monthly board meetings that provides board members with the information they need to define the long-term strategic direction for Los Angeles' mass transit system.