2020•SSRN Electronic JournalOpen access

The Balanced Scorecard – A Particular Form of Management Thinking and Control

Венелин Терзиев

Abstract

The Balanced Scorecard (BSC) is a practical tool to help organizations implement their business strategy. Strategic objectives, criteria and action plans are formulated for each perspective. The continuous process of development of the balanced scorecard is focused on the reconciliation of those perspectives. The card directs the organization's efforts on the critical analysis of the future and its association with the content of the ideal.

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Key concepts: Balanced scorecard, Process management, Strategy map, Action (physics), Strategic control, Management control system, Process (computing), Control (management)