Introduction:-
The generic balanced scorecard framework, which was developed by Kaplan and Norton, to help organizations measure and improve performance across multiple dimensions.
The balanced scorecard has four key perspectives :-
- Financial – It answers the question: “How do we look to our shareholders?”
- Customer – It addresses the question: “How do customers see us?”
- Learning and growth – It answers: “How can we continue to improve and create value?”
- Internal Process Excellence – It seeks to answer: “What must we excel at?”
Characteristics :-
- Integration of Metrics
- Strategic Alignment
- Limited Number of Measures
Benefits :-
- Holistic view
- Continuous improvements
- Enhanced communication
Typical Measures for each perspective.
