MKT 300 Study Guide - Balanced Scorecard, Marketing Effectiveness
Document Summary
The balanced scorecard is the most important measure of your total performance. It provides a single number that can be compared between companies. As such, it is the main indicator for evaluating your performance in the market. The balanced scorecard is used extensively in industry. Its popularity reflects the fact that it encourages managing executives to properly consider a host of performance criteria at the same time. Below, you will find a detailed description of how the balanced scorecard is derived. It is important that you manage the division to do well in all areas measured. To accomplish this, you need to completely understand how your performance is measured. Then, work your strategy and tactics to enhance your performance across all measurement areas. If you are able to do this, you will be very successful. Check how well you performed relative to your score in the previous quarter, and to the industry as a whole.
