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What is balanced scorecard - Its need and importance?
Balanced scorecard is a strategic tool which is used for measuring the performance, generally used by managers in order to supervise and control the implementations of activities performed by the staffs. It basically defines the performance management report in an organization and control of strategies, goal settings, track performance and observe operations in an organization.
Benefits of balanced scorecard
- Helps in creating a specific performance chart
- Integrating device for corporate companies
- Measuring performance and targets
- Improving organizational effectiveness
- Comprehensive view of organizations
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