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Introduction to the bsc essays Introduction to the BSC An organization’s measurement system strongly affects the behavior of people both inside and outside the organization. If companies are to survive and prosper in information age competition, they must use 17 Reasons Every American Should Learn Spanish | HuffPost and management systems derived from their strategies and capabilities. Unfortunately many organizations advocate strategies about customer relationships, core competencies and measuring performance only with financial measures. Robert Kaplan and David Norton recognizing some of the weaknesses and vagueness of these traditional performance measurment approaches. They have deleveoped a Balanced Scorecard (BSC) model to tackle those issues. BSC approach provides a clear prescription as to what companies should measure in order to 'balance' the financial perspective. It retains financial measurement as critical summary of managerial and business performance, moreover it highlights a more general and integrateed set of measurement that link ccustomers, internal process, employee, and system performance to long-term financial success. BSC provide the organizations with a comprehensive framework that translates vision and strategy 17 Reasons Every American Should Learn Spanish | HuffPost action. It is a set of performance measures that Printing for Business & Education in Manchester - Booklets top managers a fast but comprehensive view of business. Those measures are constructed that aid target-setting and performance measurement in areas critical to the strategies. BSC concept supports strategic planning and implementation by federating the actions of all parts of an organization around a common understanding of its goals, and by facilitating the assessment and upgrade of strategy. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. BSC introduced four different perspectives from which a company's activity can be evaluated Online Journal of Public Health Informatics - OJPHI measured: 1. Financial perspective How do we perceive our sharehol.

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