ECONOMICS

Detailed explanation-1: -A balanced scorecard is a strategic management performance metric that helps companies identify and improve their internal operations to help their external outcomes. It measures past performance data and provides organizations with feedback on how to make better decisions in the future.

Detailed explanation-2: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.

Detailed explanation-3: -It’s in the name; the balanced scorecard approach gives you more accurate insights into the state of your business by looking at your organization from four perspectives: financial, customer, internal process, and learning and growth.

Detailed explanation-4: -Balanced Scorecard is a strategic management system that maps an organization’s strategy into clear objectives, measures, targets, and initiatives, which are organized into four perspectives: Financial, Customer, Internal Business Processes, and Learning and Growth.

Detailed explanation-5: -The Balanced Scorecard (BSC) is a framework to implement and manage strategy. It links a vision to strategic goals, measures, targets, and initiatives. It balances financial measures, performance measures and objectives related to all parts of the organisation. It is a business performance management tool.