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What is meant by a balanced scorecard approach

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Reference no: EM133136250

Heneman and Thomas (1997) present a Balanced Scorecard approach to constructing a competency-based structure for The Limited, Inc. These authors note that a competency system was effective among top managers in this company.  

  1. Explain what is meant by a "Balanced Scorecard" approach to performance management and discuss why this approach may be suitable for designing a competency-based structure.
  2. Specify four (4) key elements that were essential for The Limited, Inc., to have in place to experience success with their competency system.  Draw upon other readings as appropriate.

Reference no: EM133136250

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