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- Title
Moving from Concept To Reality Can Be Hard.
- Authors
Marshall, Jeffrey; Heffes, Ellen M.
- Abstract
The article discusses the difficulty companies have converting a strategic balance scorecard implementation plan into business-generating value. The article states that balanced scorecards can be powerful tools, but that 80 percent of typical companies are not realizing their full benefits, according to a study by research firm The Hackett Group. The article states that the reason are too many metrics and overweighting the scorecards with historical financial information. The article states that balanced scorecards should focus on a mix of internal and external measures in order to improve their effectiveness as a business tool.
- Subjects
BALANCED scorecard; CORPORATE finance; BUSINESS finance; FINANCIAL management; STRATEGIC planning; INDUSTRIAL management; BUSINESS communication; FINANCIAL performance; HACKETT Group Inc.; INDUSTRIAL research
- Publication
Financial Executive, 2004, Vol 20, Issue 9, p10
- ISSN
0895-4186
- Publication type
Article