PREREQUISITES FOR DEVELOPMENT AND IMPLEMENTATION OF A BALANCED SCORECARD
Journal: International Scientific Journal "Internauka" (Vol.1, No. 93)Publication Date: 2020-08-31
Authors : Terziev Venelin Krastev; Georgiev Marin Petrov;
Page : 18-23
Keywords : Balanced scorecard; Performance measurement; Strategic management; Control; Organisation;
Abstract
This study is a rational summary of the accumulations in the field of measuring performance indicators, which is appropriately made and shows in practice how one organization can achieve real value as a result of management of intangible assets, combining with organizational strategy. The introduction of a new content of the measurement methodology with the use of its three roles — compliance with standards, verification and improvement differ significantly and are much broader than the traditional concept of measurement as a tool for strategic management and relevant control. They are not based on the understanding that behavior can be controlled by measurement. They are based on the view that Balanced scorecards are a tool used to improve the course of institutional development and that it has other characteristics that should be measured and managed in a new different way.
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