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Balanced Scorecards

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Another type of results reporting that is used by organizations is the balanced scorecard. A balanced scorecard is a framework to implement and manage strategy. It links a vision to strategic objectives, measures, targets, and initiatives. It balances financial measures with performance measures and objectives related to all other parts of the organization. They are used to monitor customer perspective; financial perspective; internal processes and human resources; and learning and growth for strategic management and as a way to examine performance throughout the organization. This examination allows the organization to review multiple key areas of performance, selected on the basis of their importance to the organization's strategic plan for quality.

Kelly Vana's Nursing Leadership and Management

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