Many companies are using the Balanced Scorecard System to assist in their performance management. According...
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Accounting
Many companies are using the Balanced Scorecard System to assist in their performance management. According to Garrison, Noreen, and Brewer (2015) a balanced scorecard consists of integrated set of performance measures that are derived from and support a companys strategy (p. 490). In a Balanced Scorecard System the companys strategy is translated into a system of performance measures that are used to monitor the companys performance in meeting its strategic objectives. As part of a two-member team, your task is to identify and discuss the key performance measures of a balanced scorecard. Then, find three companies that are currently using a Balanced Scorecard System by doing an internet and library database search. Internet searches as well searches of financial databases, such as Yahoo Finance, should help you in your efforts. Then discuss in as much detail as possible the specifics of the balanced scorecard that is being used by these companies.
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