Error Correction Model for the manufacturing company.

What is it about?

Quantitative analysis of the Balanced scorecard mean that strategic themes which are supported with goals, their KPIs and cause and effect linkages, can be now numerically expressed. Cause and effect linkages are confirmed with Error Correction Models.

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Why is it important?

Following the research findings, it can be established that the methodology used provides support to organization’s decision-making process in real-time and can be used with different strategies scenarios and forecast simulations and thus supports the prioritization of strategic initiatives.