Article Title
Simulation of the Weighting of Balanced Scorecard Metrics Based on the Product Life Cycle
Abstract
An organizational strategy framework for aligning strategy and knowledge management (KM) is considered the balanced scorecard. The frameworks have different, but overlapping perspectives. This research paper considers the balanced scorecard as a basis for a simulation. The balanced scorecard represents a technique used in the strategic management of firms. It is the comprehensive set of measures or metrics that is used to communicate and evaluate achievement of the corporate mission and strategy of the business. The balanced scorecard traditionally includes both objective and subjective measures divided into four major areas: 1) Financial Perspective; 2) Customer Perspective; 3) Internal Business Process; and 4) Learning Process and Growth Perspective (Kaplan and Norton, 1997). Many products do not simply enter the market with instant success or suddenly depart without warning. Therefore, for these products, management must develop strategies within each stage of the product's life cycle. The balanced scorecard can be formulated to outline the strategies for each stage of the product's life cycle. The uniqueness and central focus of this research paper is applying the dimension of the balanced scorecard framework to the product life cycle. The simulation illustrates changes in the numbers for each measure or metric followed by a variation in the weighting based on categories or major areas.
Recommended Citation
Pineno, Charles J.
(2009)
"Simulation of the Weighting of Balanced Scorecard Metrics Based on the Product Life Cycle,"
The Coastal Business Journal: Vol. 8:
No.
1, Article 7.
Available at:
https://digitalcommons.coastal.edu/cbj/vol8/iss1/7
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