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A balanced scorecard is a strategic management performance metric that helps companies identify and improve their internal operations to help their external outcomes. It measures
- A balanced scorecard is a strategic management performance metric that helps companies identify and improve their internal operations to help their external outcomes. It measures past performance data and provides organizations with feedback on how to make better decisions in the future. The four perspectives of a balanced scorecard are learning and growth, business processes, customer perspectives, and financial data.
In your own business organization or company of your choice, apply the balanced scorecard approach by answering the following requirements using the format /table below:
- Identify at least 3 objectives for each of the four perspectives of the balanced scorecard as it applies to your business organization;
- For each objective in each perspective, identify the measure (s) which you will use to evaluate the organizations performance.
Perspective | Objectives | Measures |
Financial | 1) | 1) |
2) | 2) | |
3) | 3) | |
Customer | 1) | 1) |
2) | 2) | |
3) | 3) | |
Business Processes | 1) | 1) |
2) | 2) | |
3) | 3) | |
Learning and Growth | 1) | 1) |
2) | 2) | |
3) | 3) |
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