Results for: Balanced-scorecard

714 Contributions

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What are the main features of the balanced scorecard?

-It has enough measures that any problems would show up on one of them. Quality, cost and speed of service represent such a set of measures. -Avoid an "easy out" such a… (MORE)

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Answers Publisher

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What is the primary purpose of a balanced scorecard?

The primary purpose of a balanced scorecard is to provide a concise report on organizational performance. Usually, a balanced scorecard involves both financial and non-financi… (MORE)

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Fortheproject

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In Literature & Language

What is a balanced scorecard?

A balanced scorecard is used by managers to describe their vision/goals to the company.

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Steven Keyman

2,019,187 Contributions

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In Sports

What is the value of a 1964 Yankee scorecard?

1964 New York Yankees scorecard . A 1964 New York Yankees scorecard/program is worth $15.-$25. . As with all collectibles, condition is the most important factor of all prov… (MORE)

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Raibow.1212

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In Human Resources

What is HR scorecard approach?

HR scorecard measures the HR function's effectiveness and efficiency in producing employee behaviors needed to achieve the company's strategic goals. In order to achieve that … (MORE)

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Farhad 1360

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Disadvantages of a balanced scorecard?

Balanced Scorecard Advantages The first advantage of using the balanced scorecard method is that by looking at four aspects of a company's performance, you really …do get a balanced view of company performance. Unlike traditional methods of tracking the financial health of a business, the balanced scorecard gives you a full picture as to whether your company is meeting its objectives. While it may seem that a company is doing well financially, it may be that customer satisfaction is down, employee training is inadequate, or that the processes are outdated. Second, by using a balanced scorecard approach, the immediate future isn't the only thing being evaluated. Often, when an accountant sees the financial bottom line (perhaps the company isn't doing well), suggestions are given that are immediate, but do not look at the long-term. Using balanced scorecards allows for stakeholders to determine the health of short, medium, and long term objectives at a glance. Finally, by using a balanced scorecard, a company can be sure that any strategic action implemented matches the desired outcomes. Will raising the price of a product help the bottom line of the company in the long run? It might, if the customer is satisfied with that product, or if the processes involved with creating that product make the product of a higher quality. Balanced Scorecard Disadvantages While there are many advantages to using balanced scorecards in your accounting toolbox, there are a few disadvantages to the method as well. First, the balanced scorecard takes forethought. It is not a tool you can just think up one night to solve a problem. Instead, it is recommended that you hold a meeting to plan out what goals you would like to see your company reach in each of the four above areas. Once you have clearly stated objectives, you can then begin to break down these objectives in what you will need, financially, to bring these objectives to fruition. Second, while the balanced scorecard gives you an overall view of the four areas for concern in business growth and development, these four areas do not paint the whole picture. The financial information included on the scorecard is limited. Instead, to be successfully implemented, the balanced scorecard must be part of a bigger strategy for company growth that includes meticulous accounting methods. Finally, many companies use metrics that are not applicable to their own situation. It is vitally important when using balanced scorecards to make the information being tracked applicable to your needs. Otherwise, the metrics will be meaningless. (MORE)

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What is better the you phone 5c or 5s?

the 5s because it has better service but it dosent have diffrent colrs just silver gold and black

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In Business Accounting and Bookkeeping

What is balanced in the balanced scorecard approach?

The integration of financial and non-financial performance metrics in employee reviews make the scorecard balance. Before the balanced scorecard, only financial metrics we… (MORE)

Klinden

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What is the need for a balanced scorecard?

The balanced scorecard is a useful tool, which, when properly implemented can navigate a business to greater success. It is an organizational framework for implementing and ma… (MORE)

Anand Mehta

249,978 Contributions

Statistician / Economist formerly employed in various Government Departments in the UK, freelance mathematics and statistics tutor since retiring in 2008, Fellow of the Royal Statistical Society.

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In Math and Arithmetic

What is the answer to 20c plus 5 equals 5c plus 65?

20c + 5 = 5c + 65 Divide through by 5: 4c + 1 = c + 13 Subtract c from both sides: 3c + 1 = 13 Subtract 1 from both sides: 3c = 12 Divide both sides by 3: c = 4