Answered: Describe the advantage of using…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Describe the advantage of using abalanced scorcard

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Step 1

The Balanced Scorecard approach of measuring performance differs from the traditional financial performance measuring techniques. The balanced scorecard approach, apart from the financial perspective of the company, also look into the other perspectives of the company which is more of a qualitative performance measurement rather than quantitative performance measurements.

Step 2

The four perspectives of the balanced scorecard are: -

Customer perspective
Internal perspective
Innovation and learning perspective
Financial perspective

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