ECONOMICS

Detailed explanation-1: -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-2: -An internal process is a type of business process that organizations perform without the influence or involvement of external business partners. Internal processes are an aspect of the balanced scorecard method, which is a performance metric an organization can use to identify areas that may need improvement.

Detailed explanation-3: -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)

Detailed explanation-4: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.