Balanced Scorecard Concepts, Technology, and Applications

Abstract

Key Terms in this Chapter

Balanced Scorecard: This is a framework that helps top management to select a set of measures that provide an integrated look at a company by dividing a list of measurable items into four perspectives: financial, customer, internal business processes, and learning and growth.

Performance Management: It is a process by which an enterprise involves the whole of its resources in improving organizational effectiveness in the accomplishment of enterprise mission and goals.

IT Balanced Scorecard: This is a framework that helps IT management to select a set of measures that provide an integrated look at an IT department by dividing a list of measurable items into four perspectives: user orientation, operational excellence, business contribution and future orientation.

Critical Success Factors: These are elements that are necessary for an organization or project to achieve its mission.

Balanced Scorecard Causal Model: This is a model that describes the cause-effect relationship of an organization’s strategy.

Key Performance Indicators: These are financial and nonfinancial metrics used to quantify objectives to reflect the strategic performance of an organization.