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The Balanced Scorecard: translating strategy into results

Author

Listed:
  • POPA A. Simona

    () (CEC Bank SA, Bucharest, Romania)

Abstract

In the paper it is shown that the Balanced Business Scorecard (BSC) allows a balance between financial and non financial objectives and performs a quantification of the dimensions of strategy in four areas - financial, customers, processes and potential. Moreover, the BSC provides feedback on internal processes and external outcomes in order to improve further the performance and results in terms of strategy. When the Balanced Scorecard is implemented effectively, can transform strategic planning from an academic exercise in the central nervous of the entire company.

Suggested Citation

  • POPA A. Simona, 2009. "The Balanced Scorecard: translating strategy into results," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(2 Special), pages 214-217, July.
  • Handle: RePEc:rom:econmn:v:12:y:2009:i:2special:p:214-217
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    File URL: http://www.management.ase.ro/reveconomia/2009-2s/34.pdf
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    More about this item

    Keywords

    strategy; financial objectives; non financial objectives; Balanced Business Scorecard; performance measurement;

    JEL classification:

    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy

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