Determining the economic standing of any developed

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Reference no: EM132280595

Small and medium scaled enterprises play a vital role in determining the economic standing of any developed or developing country. The businesses apart from value adding to various sectors of the economy are intensively involved in job creation in geographic locations they operate in. The businesses are economically and socially motivated which raises the complexness of their decisions pertaining to the organization. It is a common perception that during decision making processes by SMEs (Small and medium enterprises) significant perspectives are ignored or neglected. These perspectives can range from ethical to any social mission of the organization which claims to be committed. Balanced scorecard is the strategic management tool which ensures incorporation of the perspectives in the decision making process.

Reference no: EM132280595

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