Balanced Scorecard is a strategy tool which helps organizations bring their unique strategy to life. The premise is simple with Balanced Scorecard: Companies execute strategy, by translating it into a balanced set of objectives and measures which they then use to hold themselves and their teams accountable for successful execution.
The balanced scorecard approach examines performance from four perspectives -
1) Financial analysis, which includes measures such as operating income, profitability and return on investment.
2) Customer analysis, which looks at investment in customer service and retention.
3) Internal analysis, which looks at how internal business processes are linked to strategic goals.
4) The learning and growth perspective assesses employee satisfaction and retention, as well as information system.
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