AFM341 Chapter Notes - Chapter 14: Balanced Scorecard, Intangible Asset, Customer Retention
Document Summary
Balance scorecard framework: provides an integrating framework that describes organizational performance relative to its strategic obj ectives across four perspectives: learning and growth, process, customer, and financial. Objectives for each perspective describe the strategy in a series of cause -and-effect relationships. Learning and growth: describes the firm"s objectives and corresponding measures for improvements in tangible and intangible infrastructure , such as human, information, and organizational capital. Process: describes the organization"s internal, process -related, objectives and corresponding measures; it views organizationa l performance from an internal perspective. There are four main types of business processes: operations management, customer management, innovation, and regulatory and social. Customer: describes the organization"s customer -related objectives and corresponding customer measures; it views organizational performance from the customer"s perspective. Financial perspective: describes the organization"s financial objectives and corresponding financial measures of performance; it views the organizational performance from the shareholders" perspective.