Compare the balanced scorecard approach to the triple bottom line approach for assessing organizational performance.
What will be an ideal response?
Both the balanced scorecard and triple bottom line approaches are attempts to
apply a more holistic, well-rounded form of assessment to organizational performance
that takes into account factors other than simple mission success or shareholder
interests. The balanced scorecard approach details four broad categories for
performance--financial, customer, internal business process, and employee learning
and growth--but then leaves the development of more specific goals within those
categories to the discretion of managers. The triple bottom line approach is a bit less
flexible with three categories of measurement--social performance, ecological
performance, and financial performance. A balanced scorecard manager could choose
to include ecological performance as a measure, but triple bottom line makes it a stated
priority.
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