Financial Glossary: Balanced Scorecard


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Balanced Scorecard

Balanced Scorecard

A strategic-management method of identifying and improving various internal functions and their resulting external outcomes.

The balanced scorecard tries to measure and provide feedback to organizations in order to help in enforcing strategies and objectives. It is a performance metric used in strategic management to identify and improve various internal functions and their resulting external outcomes. The balanced scorecard attempts to measure and provide feedback to organizations in order to assist in implementing strategies and objectives.

This management technique locates four separate areas that need to be analyzed: learning and growth, business processes, customers, and finance. Data collection is crucial to providing quantitative results, which are interpreted by managers and executives and used to make better Long-term decisions.

Posted by IQPC Ltd

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