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The Balanced Scorecard  

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Abstract The Balanced Scorecard is a management tool that supports the successful implementation of corporate strategies. It translates an organization's strategy into clear objectives, measures, targets and initiatives organized by four different but inter-related perspectives: financial, customer, internal and learning and growth perspectives. By linking financial and non financial measures with causal chains to the organization's strategy, the Balanced Scorecard supports the alignment and management of all organizational activities according to their strategic relevance. The manner in which the measures of the Balanced Scorecard are developed and communicated in the corporate world (i.e. how the Balanced Scorecard is practiced) is discussed by taking the case of Metro Bank and Asia Telecom. Metro Bank is a case adapted from Kaplan and Norton (1996) while Asia Telecom is based on a telecommunication company whose name is disguised to preserve confidentiality. The Balanced Scorecard is also used as a central framework for a company's...

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