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فيديو شرح Balanced Scorecard Explained ضمن كورس محاسبة التكاليف شرح قناة Farhat Lectures. The # 1 CPA & Accounting Courses، الفديو رقم 47 مجانى معتمد اونلاين
The Balanced Scorecard explained for CMA and CPA exam candidates and practicing accountants and managers studying cost and managerial accounting. This lecture shows how the Balanced Scorecard translates strategy into performance measures across four perspectives, why financial metrics alone fall short, and how the perspectives connect in a cause-and-effect chain, ideal for anyone searching for balanced scorecard explained or four perspectives of the balanced scorecard.
Try it free at farhatlectures.com — interactive exercises, lectures, simulations, cases, multiple choice, and AI tools for CPA, CMA, EA and students.
Video Timeline & Key Concepts:
0:00 Introduction: the Balanced Scorecard as a framework to translate vision and strategy into performance measures
0:13 Strategic objectives: companies aim to earn a profit by generating cash through revenues minus expenses
0:48 A more comprehensive view: looking beyond financial metrics to a balanced set of perspectives
2:38 Limitations of financial measures: myopia, unfair rewards, and reliance on lagging indicators
7:34 The four perspectives: learning and growth, internal processes, customer, and financial
13:33 How they connect: investing in people improves processes, which satisfies customers and drives financial results
Frequently Asked Questions:
What is the Balanced Scorecard?
The Balanced Scorecard is a strategic management framework that translates an organization's vision and strategy into a balanced set of performance measures. It supplements traditional financial metrics with measures across learning and growth, internal processes, and customer perspectives.
What are the four perspectives of the Balanced Scorecard?
The four perspectives are learning and growth, which covers employee training and innovation; internal processes, which covers operational efficiency and quality; customer, which covers satisfaction and retention; and financial, which covers profitability and shareholder value.
Why are financial measures alone insufficient?
Financial measures are lagging indicators that report past results and can encourage short-term thinking, such as cutting research or development to boost near-term profit. They also may unfairly judge employees on outcomes they cannot directly control.
How are the four perspectives connected?
The perspectives form a cause-and-effect chain: investing in learning and growth improves internal processes, which leads to greater customer satisfaction, which ultimately produces stronger financial performance.
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