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15 Cards in this Set
- Front
- Back
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balanced scorecard
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an approach to perform measurement that weighs performance measures from four perspectives: financial performance, an internal business perspective, a cusomter perspective, and an innovation and learning perspective
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competence
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the notion that individuals will develop and maintain the skills necessary to practice their profession
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confidentiality
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the notion that individuals will refrain from disclosing company information to inappropriate parties, such as competitors,that could be specifically defined in the company's code of ethics
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core competency
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a higher proficiency relative to competitors in a critical function or activity; a root of competitiveness and competitive advantage; anything that is not a core competency is a viable candidate for outsourcing
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cost accounting
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a discipline that focuses on techniques or methods for dtermining the cost of a project, process, or thing through direct measurement, arbitrary assignment, or systematic and rational allocation
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cost leadership
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a company's ability to maintain its competitive edge by undercutting competitor prices
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cost management
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a reflection on management's concern for continuously reducing costs while concurrenlty improving customer satisfaction
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customer value perspective
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a balanced scorecard perspective that addresses how well an organization is doing to important customer criteria such as speed(lead time), quality, service, and price (both purchases and after purchase).
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downstream cost
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a cost related to marketing, distribution, or customer service
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financial perspective
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a balanced scorecard perspective that addresses the concerns of stockholders and other stakeholders about profitability and organizational growth
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integrity
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the notion that individuals will not participate in activites that would discredit their company or profession
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internal business perspective
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a balanced scorecard perspective that addresses those thing an organization needs to do well to meet customer needs and expectations.
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lag indicator
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an outcome assessed by historical financial data that has resulted from past actions
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lead indicator
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a future financial and non-financial outcomes, including opportunities and problems, which helps assess strategic progress and guide decision making before lage indicators are known
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learning and growth perspective
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a balanced scorecard perspective that focuses on using an organization's intellectualy capital to adapt to changing customer needs or to influence new customers' needs and expectations through product and service or service innovations.
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