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    Balanced Scorecard- Business Management

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    The operations manager has asked you to assist in determining the company's operational effectiveness and efficiency. The organization has made a decision to use the balanced scorecard as the tool to measure key performance indicators.
    Content should include the following:
    Discuss how each section of the balanced scorecard could be used to measure the following key performance indicators:
    Financial perspective
    Customer perspective
    Business process perspective
    Learning and growth perspective
    Explain how each section could help improve productivity in each area.

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    https://brainmass.com/business/business-management/balanced-scorecard-business-management-579668

    Solution Preview

    According to the University of Virginia Library (UVL), "The Balanced Scorecard is a management tool designed to provide a view of an organization from four perspectives, and each contains two targets: (1) complete success in achieving the metric; and (2) partial success indication."

    > http://www2.lib.virginia.edu/bsc/index.html

    In terms of determining the company's operational effectiveness and efficiency, each section of the balanced scorecard could be used to measure key performance indicators as follows:

    FINANCIAL perspective - this is a measure of how well an organization is managing it resources over periods of time (weekly, monthly, quarterly, annually); its cost controls; fiscal stewardship; operational viability; and overall effective use of resources.

    - how it could help improve productivity : By knowing how much money is coming in and going out, productivity can be measured in a number of ways. For example, UVL ...

    Solution Summary

    Solution answers the operations manager query to assist in determining the company's operational effectiveness and efficiency. The organization has made a decision to use the balanced scorecard as the tool to measure key performance indicators, and each section of the balanced scorecard is discussed to measure the following key performance indicators:

    Financial perspective
    Customer perspective
    Business process perspective
    Learning and growth perspective

    Plus, it is explained how sections could help improve productivity in each area.

    $2.19

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