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Balanced Scorecard: Organizational performance management instrument

Nicoleta Constandache () and Gheorghe Chiru ()
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Nicoleta Constandache: Danubius University
Gheorghe Chiru: Danubius University

EuroEconomica, 2015, issue 2(34), 97-112

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.

Keywords: performance; customer satisfaction; employees’ satisfaction; internal processes; perspectives; integrated analysis. (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:dug:journl:y:2015:i:2:p:97-112