THE SCORECARD, A FUNDAMENTAL STRATEGIC ELEMENT OF THE PERFORMANCE MANAGEMENT
THE SCORECARD, A FUNDAMENTAL STRATEGIC ELEMENT OF THE PERFORMANCE MANAGEMENT

Summary/Abstract: The Balanced Scorecard represents a holistic approach in which people’s creativity and their availability for leaning are turned to good account to everyone’s advantage. In the context of a flux of technological revolutions and permanent redefinition of values we notice that the solution taken into account today become more rapidly tomorrow’s problems. The value of the organizations tends to reside in the personnel and teams not in equipment or assets. In this scientific approach, the present study makes an attempt to present the definition and the development of the balanced scorecard in the new performance management system in bank activity. It has been noticed that the Romanian banking management focuses on financial performance, with a strong tendency for administrative processes and procedures, to the detriment of innovation, of the relationship with the clients and of the personnel development. In addition, the bank consumes a huge quantity of paper in the process of measuring performance. Taking all this into account, a decision has been made for the balanced scorecard method to be used in territorial banking, from bottom upwards, at the level of regional, zonal and branch managers.

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