Balanced Scorecard

    The balanced scorecard (BSC) framework is designed to help a corporation align its strategy and measure performance for purposes of accountability and strategic decision making. Each employee in the organization must understand what each BSC metric value represents to improve their area of responsibility and the result.

    It offers a holistic, non-financial, and non-ranking measure of organizational performance. A Balanced Scorecard is where employees “look beyond their noses.” It defines and visualizes what an organization stands for and describes where it currently operates. It concentrates on the organizational levels of core business processes and external customer perspectives and the individual departments and their internal functioning.

    Benefits of Balanced Scorecard:

    • It helps to bring together the activities of an organization by assigning measurements to employees.
    • It allows management to utilize a single tool that brings in assessments from all areas of an organization.
    • It allows better comparisons and produces comprehensive reports on how well an organization is functioning individually and with its customers as a whole.

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