The Balanced Scorecard framework, proposed by Kaplan and Norton, allows organizations to measure performance through a holistic set of KPIs, integrating both financial and non-financial metrics for a balanced view.
The BSC focuses on four key perspectives: customer satisfaction, internal processes, innovation and learning, and financial outcomes, thereby encouraging organizations to monitor their performance comprehensively.
By addressing both quantitative and qualitative measures, the Balanced Scorecard framework empowers organizations to not only assess their financial health but also to enhance customer satisfaction and internal efficiencies.
Implementing the Balanced Scorecard aids organizations in aligning their business activities to their vision and strategy, improving internal and external communications, and monitoring organizational performance against strategic goals.
#balanced-scorecard #performance-measurement #strategic-planning #key-performance-indicators #organizational-health
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