Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CONCLUSION TO The Balanced Scorecard (BSC) is a strategic management tool that offers a holistic perspective of an organization's performance by combining financial metrics with

CONCLUSION TO The Balanced Scorecard (BSC) is a strategic management tool that offers a holistic perspective of an organization's performance by combining financial metrics with other crucial performance indicators. This approach provides an equitable representation of the present performance as well as the factors that will influence future performance. The BSC places its emphasis on four distinct viewpoints: financial, customer, internal process, and learning and growth. The financial perspective emphasizes key financial performance measures, including profitability, revenue growth, and return on investment. The customer viewpoint prioritizes the contentment of customers, their loyalty, and the market share in certain target sectors. The internal process viewpoint examines the efficiency and efficacy of internal processes that generate value for both consumers and shareholders. Finally, the learning and growth perspective centers on the organization's capacity to innovate, enhance, and acquire knowledge. The Balanced Scorecard (BSC) is more than simply a scorecard; it is a comprehensive management system that elucidates the vision and strategy of a business and converts them into actionable steps. The input it gives encompasses both internal company processes and external consequences, enabling a continuous enhancement of strategy performance and results. The BSC promotes cohesion and shared concentration by harmonizing objectives throughout all levels of the company. It e

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations of Lodging Management

Authors: David K. Hayes, Jack D. Ninemeier, Allisha A. Miller.

2nd edition

132560895, 978-0132560894

More Books

Students also viewed these General Management questions

Question

3.3 What is a market supply curve?

Answered: 1 week ago