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They then identify four or five key performance indicators within each area. The purpose of the balanced scorecard is not only to monitor performance within each area, but also to improve performance by setting specific goals for each measure and time frames for achieving them.
A balanced scorecard is only as good as the metrics used to measure performance.
Certain general performance metrics are significant for organizations in all industries. These universal metrics include revenue analysis, financial projections, staffing trends, and training evaluation. Others include supply costs and projections...
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Common topics in this essay:
- A Balance Scorecard
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- Balance Scorecard
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