BALANCED SCORECARD: WHAT IS IT AND WHY IS BSC NEEDED?
Keywords:
operational finance, financial audit,effectiveness, economy, KPI, strategic planning.Abstract
In modern business, more and more companies are realizing the need to move from traditional management methods to more innovative and flexible approaches. Rapid changes in the economy and increasing competition force organizations to constantly adapt and find new ways to improve their profitability. This is where the Balanced Scorecard (BSC) comes to the rescue. In this article, we'll look at the basic principles and benefits, and look at specific examples of successful implementations in various industries. You'll learn what steps to take to implement it and how to use it to achieve your plan.
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