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Balanced Scorecard
Balanced Scorecard is a management system that enables an organization to set, track and achieve its key business strategies and objectives. Once the business strategies are developed, they are tracked through relevant metrics in the four legs of a balanced scorecard - Customer, Financial, Internal Business Process, Learning and Growth
An application-oriented question on the topic along with responses can be seen below. The best answer was provided by Mohamed Asif on 01st August 2019.
Applause for the respondents- Natwar Lal, Mohamed Asif, Praveen Kumar K, J R Sankar, & Vastupal Vashisth
Also review the answer provided by Mr Venugopal R, Benchmark Six Sigma's in-house expert.
Question
Rupinder N 31
Q. 181 Kaplan and Norton identified that businesses largely rely on financial metrics which does not give enough indication of where the business is headed. To overcome this limitation, they came up with Balanced Scorecard. When does using a Balanced Scorecard become ineffective? In other words, what are the caution points while setting up the Balanced Scorecard for an organisation?
Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday.
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