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Strategic business management as a continuous process of learning - 4th generation of Balanced Scorecard method

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  • Michaela Durkáčová
  • Jaroslava Kádárová

Abstract

Balanced Scorecard is one of the most modern tools that meet the criteria established for the strategic concept of company performance evaluation. His persuasiveness, flexible design, and general application were appreciated by the corporate experience within the meaning of increasing demand for this system of strategy implementation, the development of which is currently classified into four generations. Due to implementation of the Balanced Scorecard company receives very quality and clear view of the company as a whole, to achieve its strategic objectives, the functioning of processes and causes of fluctuations in their performance and success. The aim of this paper is to summarize the genesis of this method and analyze the nature and benefits of the changes brought by the fourth generation of BSC.

Suggested Citation

  • Michaela Durkáčová & Jaroslava Kádárová, 2014. "Strategic business management as a continuous process of learning - 4th generation of Balanced Scorecard method," Ekonomika a Management, Prague University of Economics and Business, vol. 2014(4).
    • Handle: RePEc:prg:jnleam:v:2014:y:2014:i:4:id:238
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    More about this item

    Keywords

    Balanced Scorecard; strategic management; Generations; Balanced Scorecard; Generácie; Strategické riadenie;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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