balance scorecard Flashcards
What is the short version to remember the balance scorecard perspectives?
FICG
What is elkinsons triple bottom line focusing on?
planet, people, profit
what is the traditional approach?
profit is the only way to measure companies performance
who created the balance scorecard?
kaplan and norton
What are the 4 perspectives on the balance scorecard?
Financial, Internal processes, Customer, learning growth
What do internal processes focus on?
what they must excel at
How does growth link to TS continuum?
focusing on talent of people can lead to growth
What are benefits of balance scorecard? (3)
helps achieve long term objectives
offers all round view of company
ensures sustainability of business
what are drawbacks of balance scorecard? (2)
may cause conflict
too many factors may be confusing
How can you put into perform each indicator
OMII
objectives, measures, indicators, initiatives
