ARTICLE MANAGEMENT SYSTEM WHICH CONTENT SIMPLE PAST TENSE AND PRESENT PERFECT TENSE
USING THE BALANCED
SCORECARD AS A STRATEGIC MANAGEMENT SYSTEM
The balanced
scorecard revolutionized conventional thinking about performance metrics.
When Kaplan and Norton first introduced the concept, in 1992,
companies were busy transforming
themselves to compete in the world of information; their ability to exploit
intangible assets was becoming more
decisive than their ability to manage physical assets. The scorecard allowed
companies to track financial results while monitoring progress in building the
capabilities needed for growth. The
tool was not intended to be a
replacement for financial measures but rather a complement—and that’s just how
most companies treated it.
Some companies went a step further,
however, and discovered the scorecard’s value as the cornerstone of a new strategic management
system. In this article from 1996, the authors describe how the balanced
scorecard can address a serious deficiency in traditional management systems: the
inability to link a company’s long-term strategy with its short-term financial
goals. The scorecard lets managers introduce four new processes that
help companies make that important link.
The
first process translating the vision helps managers build a consensus
concerning a company’s strategy and express it in terms that can guide action
at the local level. The second communicating and linking calls for
communicating a strategy at all levels of the organization and linking it with
unit and individual goals. The third—business planning—enables companies to
integrate their business plans with their financial plans. The fourth—feedback
and learning gives companies the capacity for strategic learning, which
consists of gathering feedback, testing the hypotheses on which a strategy is
based, and making necessary adjustments.
Source
Article : https://hbr.org/2007/07/using-the-balanced-scorecard-as-a-strategic-management-system
Intruction :
1. Simple Past Tense (bold)
2. Present Perfect Tense (bold and italic)
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