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The balanced scorecard has more recently become a key component of structured approaches to corporate strategic management. [6] Two of the ideas that underpin modern balanced scorecard designs concern making it easier to select which data to observe, and ensuring that the choice of data is consistent with the ability of the observer to ...
BSC SWOT, or the Balanced Scorecard SWOT analysis, was introduced in 2001, by Lennart Norberg and Terry Brown. BSC SWOT is a simple concept that combines the two powerful tools BSC ( Balanced Scorecard ) and SWOT analysis when identifying factors that drives or hinders strategy .
In business performance management, a third-generation balanced scorecard is a version of the traditional balanced scorecard, a structured report, supported by design methods and automated tools, that can be used by managers to keep track of the execution of activities by the staff within their control, and to monitor the consequences arising from these actions.
Only a diversified company with a balanced portfolio can use its strengths to truly capitalize on its growth opportunities. The balanced portfolio has: stars whose high share and high growth assure the future; cash cows that supply funds for that future growth; and; question marks to be converted into stars with the added funds. [citation needed]
Customer satisfaction is viewed as a key performance indicator within business and is often part of a Balanced Scorecard. In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a major differentiator and increasingly has become an important element of business strategy. [8]
Other areas have included forecasting, total quality management, business process reengineering, quality function deployment, and the balanced scorecard. [1] Other uses of AHP are discussed in the literature: Deciding how best to reduce the impact of global climate change (Fondazione Eni Enrico Mattei) [7]
Business performance management (BPM) (also known as corporate performance management (CPM) [2] enterprise performance management (EPM), [3] [4] organizational performance management, or performance management) is a management approach which encompasses a set of processes and analytical tools to ensure that an organization's activities and output are aligned with its goals.
A financial forecast is an estimate of future financial outcomes for a company or project, usually applied in budgeting, capital budgeting and / or valuation.Depending on context, the term may also refer to listed company (quarterly) earnings guidance.