- The three structural elements of BSC
- its measures are derived from strategy
- there is a balance among measures
- the measures are causally linked
- Two "use" elements of BSC:
- double-loop learning
- tie-in to compensation
- BSC classification scheme based on point 1 and 2:
4. Expected benefits of using BSC
- improve alignment of strategic objectives with strategy
- foster stronger consideration of non-financial drivers of performance
- develop a consistent system of objectives in the company
- support shareholder value-based management system
- improve company's long-term results
Reference
Soderberg, M., Kalagnanam, S., Sheehan, N.T. and Vaidyanathan, G. (2011) "When is a balanced scorecard a balanced scorecard? International Journal of Productivity and Performance Management Vol. 60(7), pp. 688-708.
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