Activity-Based Costing
One tool that can aid a company in measuring success is the balanced scorecard. In 1992, this concept was created by Dr. Robert S. Kaplan and Dr. David P. Norton. By integrating a measurement with management an organization can effectively and quickly implement strategic decisions. Major government departments such as the American Cancer Society, Blue Cross Blue Shield, Department of Commerce, and U.S. Army and thousands others use the balanced scoreboard. It is also used by institutions such as the Department of Energy. This concept uses the organization's vision and measures it against four performance indicators (1) financial (2) customer (3) internal business processes and (4) learning and growth (Universus Networks, 2006). These indicators are used to measure success progress and long term drivers of success
Customer metrics was introduced by the balanced scorecard into the performance management systems. Such metrics used are market shares, account shares,......
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