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... what is necessary. It aligns the organization strategy with the employees’ performance on daily basis. With the use of balanced scorecard there is focus on the drivers of future performance. It improves communication of the organizations vision and strategy as well as prioritizing the project initiatives.
FINANCIAL MANAGEMENT - Balanced Scorecard
Financial management increases the focus on strategy and results. It improves organizational performance by measuring what is necessary.
Details
| language |  | english |
| wordcount |  | 2075 (cca 5.5 pages) |
| contextual quality |  | N/A |
| language level |  | N/A |
| price |  | free |
| sources |  | 3 |
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Preview of the essay: FINANCIAL MANAGEMENT - Balanced Scorecard
FINANCIAL MANAGEMENT The balanced scorecard was a new approach to strategic management that was first detailed in a series of articles and books by Drs. Kaplan and Norton. In the previous approaches to strategic management there existed weaknesses and vagueness of and the balanced scorecard approach came to provide a clear prescription as to what companies should measure for the purpose of balancing their financial perspective. Balanced score card is not only a measurement system but also a management system that gives organizations the ability to clarify their vision and strategy and translate them into action. It gives feedback to both ...... what is necessary. It aligns the organization strategy with the employees’ performance on daily basis. With the use of balanced scorecard there is focus on the drivers of future performance. It improves communication of the organizations vision and strategy as well as prioritizing the project initiatives.
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Finance
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Economics
/Management
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