ECONOMICS

Detailed explanation-1: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.

Detailed explanation-2: -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-3: -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-4: -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-5: -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)