Describe the advantage of using abalanced scorcard
Chapter2: Managerial Decision-making
Section2.3: Programmed And Nonprogrammed Decisions
Problem 2CC: Give an example of a nonprogrammed decision.
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Describe the advantage of using abalanced scorcard
Expert Solution
Step 1
The Balanced Scorecard approach of measuring performance differs from the traditional financial performance measuring techniques. The balanced scorecard approach, apart from the financial perspective of the company, also look into the other perspectives of the company which is more of a qualitative performance measurement rather than quantitative performance measurements.
Step 2
The four perspectives of the balanced scorecard are: -
- Customer perspective
- Internal perspective
- Innovation and learning perspective
- Financial perspective
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