ECONOMICS

Detailed explanation-1: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.

Detailed explanation-2: -Other Measures for the Internal Business Perspective The internal measures for the balanced scorecard should stem from the business processes that have the greatest impact on customer satisfaction-factors that affect cycle time, quality, employee skills, and productivity, for example.

Detailed explanation-3: -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-4: -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)