BU247 Lecture Notes - Lecture 3: Balanced Scorecard, Texas Education Agency Accountability Ratings System, Strategy Map
Document Summary
Perspectives: four different but linked perspectives are derived from the organization"s mission, vision and strategy, financial, customer, process, learning and growth. Balanced measurements: the bsc enables companies to, track financial results, monitor how they are building the capabilities for future growth and profitability, with customers, with their internal processes, with their employees and systems. Objectives: concise statements that articulate what the organization hopes to accomplish, action phrases, tell the story of the strategy through the cause-and-effect relationships, typical objectives found in each of the four bsc perspectives include: Illustrates the causal relationship among the strategic objectives across the four perspectives. Innovation processes: processes by which companies develop new products, processes, and services, regulatory and social processes, processes by which companies ensure that they meet or exceed regulations on business practices. Identifies objectives that drive improvement in the process objectives: human resources, organization culture and alignment.
