Question
The Balanced Scorecard (BSC) framework facilitates performance tracking and reporting by providing a structured approach to strategic management. It translates an organization's vision and strategy into a set of performance measures that provides a balanced view of organizational performance. These measures are often categorized into four perspectives: financial, customer, internal process, and learning and growth. By tracking these measures, organizations can monitor their progress towards strategic goals and make necessary adjustments. The BSC also facilitates communication and understanding of business goals and strategies at all levels of the organization.
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Strategic priorities and guidance to major business units and transformation Performance tracking and reporting Discovery of performance improvement opportunities Execution of strategically linked improvement projects Allocation and prioritization of project resources Facilitation of organizational strategic communications Identification of barriers to excellence The management of the human aspect of change
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