ECONOMICS

Detailed explanation-1: -The balanced scorecard involves measuring four main aspects of a business: Learning and growth, business processes, customers, and finance.

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

Detailed explanation-3: -At What Matters, we recommend a maximum of 3-5 objectives at any given time, whereas BSC can have 10-15 objectives. In BSC, “Measures” are the same as “Key Results.” But BSC recommends only having 1-2 measures per objective, while with OKRs you can have 3-5 key results.

Detailed explanation-4: -The balanced scorecard system aims to provide a more comprehensive view to stakeholders by complementing financial measures with additional metrics that gauge performance in areas such as customer satisfaction and product innovation.