Balanced Scorecard for Associations
- Topics:
- Strategic Management Tools
- Source:
- The Forbes Group
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Overview: The Balanced Scorecard system of planning measurement has been used in companies for years, but it's new to associations. This article explains the system and how some associations are experimenting with it. Many association executives are grappling with the need to involve their Boards in an ongoing strategic dialogue while at the same time providing them with proof that they’re actually getting somewhere. The concept of a “balanced scorecard” proposed the use of performance measures in four categories that would give a more “balanced” perspective. This included measures of financial performance, customer satisfaction, process efficiency and, at the time, innovation. Of the four measurement categories, customer satisfaction is one of the more difficult to measure accurately and efficiently. While there may be some generic statements common to many associations, it is important to craft the statements in a manner that are functional in nature, free of spin yet specific to any unique aspects.
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Format: HTML | Date: Jan 2003 | Pages: 1
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