reply to There are several ways that firms can use various tools and techniques to improve their performance. You conduct thorough analysis of a market and competition to identify the areas where the firm can improve and gain competitive advantage. Another way can be by improve performance through process optimization. By analyzing and streamlining the firm's internal processes with a supply chain or customer service. A balanced scoreboard is strategic management tool that helps organization track and measure their performance. The four areas can be in financial, customer, internal processes, and learning growth. A balanced scoreboard takes more holistic approach by including the non financial metrics