Different measures of performance ranging

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A balanced scorecard involves many different measures of performance ranging from the company's net income to the amount of time a customer must wait in line. How does a manager looking at a balanced scorecard know whether a particular score is good or bad? If a customer waits an average 30 seconds, is that good or bad? Is a net income of $10 million good or bad?

Read the article here. Using the Key Performance Indicators (KPIs), suggest alternative methods for normalizing scores that might be useful to your business. Your alternatives should allow managers to tell at a glance whether performance is good or bad and improving or deteriorating. Be descriptive and explain why it is necessary.

Reference no: EM13779364

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