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The Balanced Scorecard (BSC) contributes to the productivity of a company by providing a comprehensive framework for measuring performance from multiple perspectives: Financial, Customer/Stakeholder, Internal Process, and Organizational Capacity. By focusing on these areas, a company can monitor and improve its financial performance, customer satisfaction, internal processes efficiency, and organizational capacity for learning and growth. This holistic approach helps in identifying areas of improvement, setting strategic goals, and aligning activities across the organization, thereby enhancing overall productivity.
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Financial (aka Stewardship) – this perspective analyzes an organization's financial performance and financial resources utilization. Customer/Stakeholder – this perspective analyzes organizational performance from the customer or key stakeholders point of view. Internal Process – this perspective analyzes an organization's performance in relation to the product/ service quality and efficiency. Organizational Capacity (aka Learning and Growth) – this perspective analyzes key aspects of progress performance, such as human resources, infrastructure, technology, culture, etc.
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Need a way to streamline your strategic planning process? The Balanced Scorecard (BSC) is a tried-and-true method used by some of the most successful...
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