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The Balanced Scorecard (BSC) in strategic planning provides a comprehensive framework that translates an organization's strategic objectives into a set of performance measures. It provides benefits such as: 1) It provides a clear prescription as to what companies should measure in order to 'balance' the financial perspective. 2) It helps to focus on the strategic direction and performance of the organization, not just its short-term financial outcomes. 3) It helps to align key performance measures with strategy at all levels of the organization.
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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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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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