memo implementing a balanced scorecard technique
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Duncan Clarke is controller of Clarke Manufacturing Company, one of your clients. Clarke Manufacturing makes molded plastic containers for beverage producers such as dairies. Mr. Clarke has implemented a new strategic plan, which he hopes will help his company became more competitive. He has recently heard of something called a "balanced scorecard" technique that might be of use in the plan's implementation. He has asked you to prepare a memo explaining what this management tool is and how it might be of use.
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Clarke Manufacturing: memo implementing a balanced scorecard technique
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The balanced scorecard is a management system that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise. (Source: http://www.balancedscorecard.org/basics/bsc1.html ).
Balance scorecard is a very useful tool for performance evaluation in the sense that it builds all the evaluation measures around the core business strategy and vision. While the traditional approaches focus mainly on past financial results, the performance evaluation under balances scorecard encompasses ...
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