Balanced Scorecard

Strategic ManagementPerformance MetricsDecision Making

The Balanced Scorecard is a strategic management tool that translates an organization’s mission and vision into specific, measurable goals across four perspectives.

Introduction

The Balanced Scorecard is a strategic management tool that translates an organization’s mission and vision into specific, measurable goals across four perspectives.

Four Perspectives

  1. Financial: Revenue, cost, and profitability metrics.
  2. Customer: Satisfaction, retention, and acquisition.
  3. Internal Processes: Operational efficiency and quality.
  4. Learning and Growth: Employee development and innovation.

Applications

  • Aligning business activities with strategy.
  • Monitoring organizational performance comprehensively.

Related Resources

  • Book: "The Balanced Scorecard" by Robert Kaplan and David Norton.
  • Tools: BSC Designer, Strategy Map software.

Related Topics

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