Meaning of balanced scorecard
Balanced Scorecard
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Quality
Glossary of quality terms
Meaning and definition of balanced scorecard :
Balanced Scorecard A framework which translates a company's vision and strategy into a coherent set of performance measures. Developed by Robert Kaplan and David Norton (published in the Harvard Business Review in 1993), a balanced business scorecard helps businesses evaluate how well they meet their strategic objectives. It typically has four to six components, each with a series of sub-measures. Each component highlights one aspect of the business. The balanced scorecard includes measures of performance that are lagging (return on capital, profit), medium-term indicators (like customer satisfaction indices) and leading indicators (such as adoption rates for, or revenue from, new products).
For the term balanced scorecard may also exist other definitions and meanings, the meaning and definition indicated above are indicative not be used for medical and legal or special purposes.
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Glossary of quality terms
Balanced Scorecard
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