control techniques
A Balanced Scorecard 10/20/13 Milton Morgan HTT/220
A balance scorecard is something that was developed in the early 1990’s by two men at the Harvard School of Business, Robert Kaplan and David Norton. It is a management system that enables an organization to set, track, and achieve its main business strategies and objectives. After the business strategies are developed, they are deployed and tracked through the Four Legs of the Balanced Scorecard. These four legs comprise four distinct business perspectives: The Customer Leg, the Financial Leg, the Internal Business Process Leg, and the Knowledge, Education, and Growth Leg. These four legs of the Balanced Scorecard are necessary for today's business executives and managers to be able to plan, implement, and achieve their business strategies. Kaplan and Norton developed this system so that businesses could see more than just the financial stand point of their business. The customer is used to measure your customers' satisfaction and their performance requirements for your business and what it delivers, whether it's products or services. The financial Leg of the scorecard tracks your financial requirements and performance. The Internal Business Process Leg helps to measure your critical-to-customer process requirements and measures. The Knowledge, Education, and Growth Leg focuses on how you educate your employees, how you gain and capture your knowledge, and how you use it to maintain a competitive edge within your markets. These four legs of the balanced scorecard must be measured,
A balance scorecard is something that was developed in the early 1990’s by two men at the Harvard School of Business, Robert Kaplan and David Norton. It is a management system that enables an organization to set, track, and achieve its main business strategies and objectives. After the business strategies are developed, they are deployed and tracked through the Four Legs of the Balanced Scorecard. These four legs comprise four distinct business perspectives: The Customer Leg, the Financial Leg, the Internal Business Process Leg, and the Knowledge, Education, and Growth Leg. These four legs of the Balanced Scorecard are necessary for today's business executives and managers to be able to plan, implement, and achieve their business strategies. Kaplan and Norton developed this system so that businesses could see more than just the financial stand point of their business. The customer is used to measure your customers' satisfaction and their performance requirements for your business and what it delivers, whether it's products or services. The financial Leg of the scorecard tracks your financial requirements and performance. The Internal Business Process Leg helps to measure your critical-to-customer process requirements and measures. The Knowledge, Education, and Growth Leg focuses on how you educate your employees, how you gain and capture your knowledge, and how you use it to maintain a competitive edge within your markets. These four legs of the balanced scorecard must be measured,