Key Features of the Balanced Scorecard Approach in Business Administration
The Balanced Scorecard approach in Business Administration involves four key measurements: Financial, Customer, Internal Process, and Learning/Growth. This strategic planning system helps organizations align daily work with strategy, prioritize projects, and track progress towards goals efficiently. The process involves seven steps to success, including performance measures, assessment, strategy mapping, and evaluation. Implementing the Balanced Scorecard provides a structured method for strategy building and communication.
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Presentation Transcript
Libyan International Medical University Faculty of Business Administration Outline the Features of the Balance Scorecard Approach Name : Nahawand Elhammali ID :2752 Email: nahawand_2752@limu.edu.ly 1
Table Of Content: 01 02 03 04 The Features Of Balanced Scorecard The 7 Steps To Success Introduction Conclusion 2
The balanced scorecard (BSC) may be a strategic planning and management System, Organizations use (BSCs) to: Adjust the day-to-day work that everybody is doing with technique. Prioritize projects, items, and administrations. Measure and screen a dvance towards strategic targets. Introduction: 3
What are the features of balanced scorecard? The four measurements of performance that are considered in a balanced scorecard are: 01 02 03 04 Financial. Customer. Internal process. Learning and growth. 4
The 7 Steps To Success: Step 4: Performance Measures. Step 1: Assessment. Strategy. Step 2: Step 5: Strategic Initiatives. Step 3: Strategy Mapping. Performance Analysis. Step 6: Step 7: Evaluation. 6
Balanced scorecard useful because the balanced scorecard gives a effective system for building and communicating technique. The business model is pictured in a methodology outline which makes a difference directors to think almost cause- and-effect connections between the distinctive vital destinations. Conclusion: 7
Reference: Balancedscorecard. (2020, February 5). Nine Steps to Success. Balanced Scorecard Institute. https://balancedscorecard.org/about/nine-steps/. Graybeal, P., Franklin, M., & Cooper, D. (2018, July 24). Describe the Balanced Scorecard and Explain How It Is Used. Principles of Accounting Volume 2 Managerial Accounting. https://opentextbc.ca/principlesofaccountingv2openstax/chapter/describe-the-balanced-scorecard-and- explain-how-it-is-used/. 8
