This refers to a system used to assess the organisation’s performance against, typically, four business dimensions.
A balanced scorecard measures the organisation’s performance against financial, customer service, internal efficiency and organisational development (for example research and development, staff development) criteria. The approach recognises that a single measure (for example profitability) may be distorted in the short term and not reflect the organisation’s sustainability.
Balanced scorecard is a term normally found in strategic management and performance management.
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