What does the learning and growth perspective show?
Data collection, succession planning, professional development and competition
8 of 12
Who uses the balanced scorecard ?
-Businesses
-Governments
-Social enterprises
(to help make decisions to reflect the vision of the business)
9 of 12
What are 3 advantages of using a balanced scorecard?
-Helps business grow by looking at 4 key areas to increase customers/market share
-Makes strategy operational by translating it into performance measures/targets
-Shows both qualitative&quantitative issues
(more realistic )
10 of 12
What are 3 disadvantages of the balanced scorecard?
-Needs to have balance between the 4 perspectives(not easy)
-Senior management may still be too concerned with financial performance
-Needs to be updated regularly to be useful
11 of 12
What are 3 factors that may influence the successful implementation of the balanced scorecard?
-Communication
(ensure everyone in on same page)
-Team work
(Effective teamwork)
-Commitment
(long-term commitment/time to prep)
12 of 12
Other cards in this set
Card 2
Front
What is the user provided with?
Back
A set of information which addresses all relevant areas of performance in an objective and unbiased fashion.
Card 3
Front
What does the balanced scorecard provide?
Back
Card 4
Front
What are the 4 perspectives in the balanced scorecard?
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