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Balanced Scorecard: Organizational performance management instrument

Author

Listed:
  • Nicoleta CONSTANDACHE

    (Danubius University)

  • Gheorghe CHIRU

    (Danubius University)

Abstract

In order to have a successful strategy, a company must set clear strategic objectives, such as: the desired financial performances, a description of its customers, of the internal processes within the company, and of the employees’ abilities, knowledge and competences. To outline a general image of the organizational performance evaluation, we proposed the implementation of the Balanced Scorecard model, which includes five development directions. By implementing this management model within one organization, we can test the effect of some decisions before their implementation by managing some performance and risk key indicators. All these indicators categories pursue the integrated feature through the insurance the companies’ long-term success, both at global and individual level, which supposes both the vertical and horizontal integration.

Suggested Citation

  • Nicoleta CONSTANDACHE & Gheorghe CHIRU, 2015. "Balanced Scorecard: Organizational performance management instrument," EuroEconomica, Danubius University of Galati, issue 2(34), pages 97-112, November.
    • Handle: RePEc:dug:journl:y:2015:i:2:p:97-112
    as

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    File URL: http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/3067
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    References listed on IDEAS

    as
    1. Vasile Robu & Raluca Sandu, 2006. "Issues of Performance Analysis – A Critical Approach in the Context of Information and Corporate Governance Theories," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 8(8(503)), pages 15-28, October.
    2. Maria Radu, 2012. "Empirical Study on the Indicators of Sustainable Performance – the Sustainability Balanced Scorecard, Effect of Strategic Organizational Change," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 451-469, June.
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