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The Balanced Scorecard (BSC) helps in improving strategic communication within a company by providing a clear and concise framework that aligns business activities with the vision and strategy of the organization. It translates the vision and strategy into four perspectives: Financial, Customer/Stakeholder, Internal Process, and Organizational Capacity. By doing so, it allows for a balanced view of organizational performance and facilitates communication and understanding of business goals and strategies at all levels of the organization.
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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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