Balanced Scorecard

What is a Balanced Scorecard?DefinitionA balanced scorecard (BSC) is a strategic planning and management metric used by organizations to effectively communicate their goals and targets, organize staff daily work, place priority on all projects, products, and services, and measure/monitor all progress made toward achieving their targets.Understanding a Balanced Scorecard The balanced scorecard is aimed at measuring four strategic parts of an organization: business processes, learning and growth, finance, and customers. This gives organizations an advantage to easily spot business performance challenges and plan new developments that would benefit the organization by simply tracking future scorecards.The idea of using a balanced…
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