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Do financial institutions utilize a form of "Balanced Scorecard" as a performance management tool? If so, how does it help? If not, describe expected benefits of implementing a "Balanced Scorecard" program?© BrainMass Inc. brainmass.com June 3, 2020, 6:23 pm ad1c9bdddf
A performance metric used in strategic management to identify and improve various internal functions and their resulting external outcomes.
The Balanced Scorecard is an approach to performance measurement that combines traditional financial measures with non-financial measures. This approach provides managers with richer and more relevant information about the activities they are managing, increasing the likelihood of organisational objectives being achieved
The balanced scorecard attempts to measure and provide feedback to organizations in order to assist in implementing strategies and objectives.
The scorecard seeks to measure a business ...
This explains the concept of "Balanced Scorecard" as a performance management tool