Measuring Overall Performance of a Business

Measuring Overall Performance of a Business

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Interactive Video

Business

University

Hard

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The video discusses two models for measuring business performance: Kaplan and Norton's balanced scorecard and Elkington's triple bottom line. It emphasizes the need for businesses to balance short-term and long-term metrics to avoid poor decision-making. The balanced scorecard focuses on four perspectives: business, financial, customer, and growth, while the triple bottom line considers financial, social, and environmental impacts. Both models have pros and cons, with the balanced scorecard offering a comprehensive view but potentially encouraging target hitting, and the triple bottom line promoting social responsibility but being limited in scope.

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OPEN ENDED QUESTION

3 mins • 1 pt

What new insight or understanding did you gain from this video?

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