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Balanced Scorecard
A strategic planning and management tool that includes financial and non-financial performance measures, often used to evaluate the impact of marketing activities.
Implications
A strategic management tool used to monitor and measure performance across multiple areas, including financial, customer, internal processes, and learning and growth.
Example
Example: A healthcare provider uses a balanced scorecard to track performance metrics like patient satisfaction, financial stability, and staff training, ensuring balanced progress.
Related Terms
Compared to traditional financial metrics, the balanced scorecard provides a more holistic view of organizational performance.
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