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Figure 3: Balanced Score Card

     Source: www.balancedscorecard.org

Within each of the Balanced Scorecard parameters, the firm must define the following: -

• Strategic Objectives - What the strategy is to achieve in that perspective?

• Measures - How progress for that particular objective will be measured?

• Targets - The target value sought for each measure.

• Initiatives - What will be done to facilitate the reaching of the target?

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* Contributed by: -
Saurabh Goswami & Malini Pande,
II Year Students,
IIM Kozhikode.