ECONOMICS

Detailed explanation-1: -The Internal Process perspective Examples of internal process objectives might include: Process improvements (for example, streamlining an internal approval process) Quality optimisation (such as, reducing manufacturing waste) Capacity utilisation (using technology to boost efficiency, for instance)

Detailed explanation-2: -This perspective refers to internal business processes. Metrics based on this perspective allow the managers to know how well their business is running, and whether its products and services conform to customer requirements (the mission).

Detailed explanation-3: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.

Detailed explanation-4: -Internal business processes perspective A balanced scorecard puts into perspective the measures and objectives that can help the business run more effectively. Also, the scorecard helps evaluate the company’s products or services and determine whether they conform to the standards that customers desire.