ECONOMICS

Detailed explanation-1: -The heart of the balanced scorecard is a framework of four major categories or perspectives for strategy implementation – financial, customer, internal business, and innovation and learning: The financial perspective asks how the organization should appear to shareholders so that the company can succeed financially.

Detailed explanation-2: -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-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.