ECONOMICS

Detailed explanation-1: -What Are the Four Perspectives of the Balanced Scorecard? The four perspectives of a balanced scorecard are learning and growth, business processes, customer perspectives, and financial data. These four areas, which are also called legs, make up a company’s vision and strategy.

Detailed explanation-2: -Internal Business Perspective: What Must We Excel at? Customer-based measures are important, but they must be translated into measures of what the company must do internally to meet its customers’ expectations.

Detailed explanation-3: -Under the financial perspective, the goal of a company is to ensure that it earns a return on the investments made and manages key risks involved in running the business. The goals can be achieved by satisfying the needs of all players involved with the business, such as the shareholders, customers, and suppliers.

Detailed explanation-4: -Internal business perspective–Addresses those things that an organization needs to do well to meet customer needs and expectations.