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.

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.  (25 points)  (A 1½-page response is required.) APA Style

  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.

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