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When company's implement a balanced scorecard approach, there are typically key performance indicators outlined. Identify a...

When company's implement a balanced scorecard approach, there are typically key performance indicators outlined. Identify a key performance indicator and highlight its usefulness in a successful scorecard.

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Answer #1

There are 4 perspective a manager must oversee while applying balanced scorecard. They are as follows-
1. Customer Perspective
2. Internal Business Perspective
3. Innovation and Learning Perspective
4. Financial Perspective

So, explaining one of the performance indicator which I have chosen from customer perspective is Quality.

The major performance indicators under quality of product or service is-
1. Adherance to industry standards
2. Customer satisfaction
3. Number of defects or Percentage of wastage

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