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The Balance Scorecard (BSC)

The BSC is a strategic planning and management tool that is used to align business activities to the vision and strategy of the organisation to improve internal and external communications and monitor organisational performance against strategic goals. There are a number of steps in developing a BSC such as Assessment, Strategy, Objectives, Strategy Maps, Performance Measures, Initiatives, Automation, Cascading and Evaluation. The BSC helps […]

Avoid Business Failure

Business failure relates to when a business reaches a point at which it can no longer operate successfully without encountering continuous unresolvable problems. Business failure can be encountered through a number of ways such as: lack of planning, poor management, insufficient capital and overexpansion, amongst many other possible reasons. According to the Head of ABSA’s Small […]