Simulation Of The Weighting Of Balanced Scorecard Metrics Based On The Product Life Cycle
Source: Shenandoah University
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. 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 simulation illustrates changes in the numbers for each measure or metric followed by a variation in the weighting based on categories or major areas.