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The Balanced Scorecard: review and criticism

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Balanced Scorecard Performance Management

Robert S. Kaplan and David P. Norton’s 1996 book ‘’The Balanced Scorecard: Translating strategy into action” is considered to be a major contribution to the development of performance management, as their work has changed the way performance is measured. In the almost 20 years that have passed since its publishing, the Balanced Scorecard System has been implemented by thousands of companies and organizations worldwide, proving its value in time.

The customer perspective within the Balanced Scorecard

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customer perspective

The customer perspective within the Balanced Scorecard – BSC for short, enables organizations to target the market segments in which they have chosen to succeed. Correctly pinpointing the right market segment an organization wants to address helps the same organization develop strategies that maximize outcomes, and, ultimately, financial rewards.

In the past, the customer perspective was not a focal point of the Balanced Scorecard, as companies believed product performance and technology innovation to be the backbones of business success. Nevertheless, customer behavioral trends have gradually emphasized the necessity for understanding what customers need.

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