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: -A balanced scorecard (BSC) is defined as a management system that provides feedback on both internal business processes and external outcomes to continuously improve strategic performance and results.

Detailed explanation-3: -The Balanced Scorecard is a framework designed to translate an organization’s mission and vision statements and overall business strategy into specific, quantifiable goals and objectives and to monitor the organization’s performance through a lens that helps achieve these goals.