Textbook Notes (368,425)
Canada (161,877)
Business (2,391)
BU481 (56)

Balanced Scorecard BU481.docx

2 Pages
Unlock Document

Karin Schnarr

BU481The Balanced Scorecard Measures that Drive PerformanceWeek 1The HighPerformance OrganizationA balanced scorecard is a set of measures that gives top managers a fast but comprehensive view of the business Includes financial measures that tell the results of actions already taken You cannot rely on one aspect of the organization solely The balanced scorecard allows managers to look at the business from four important perspectives financial customer innovation and learning and internal businessProvides answers toHow do customers see usWhat must we excel atCan we continue to improve and create valueHow do we look to shareholdersMinimizes information overload Forces managers to focus on the handful of measures that are most critical Customer Perspective How do Customers see usCustomer concerns tend to fall into four categories time quality performance and servicecostLead time measures time Quality measures the defect level of incoming products as perceived and measured by the customer Companies should articulate goals for time quality and performance and service Translate general goals into condensed specific goals and identify an appropriate measure for each Depending on customers evaluations to define some of a companys performance measures forces that company to view its performance through customers eyes Companies use benchmarking and surveysCompanies must remain sensitive to the cost of their products Internal Business Perspective
More Less

Related notes for BU481

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.