Description
The Balanced Scorecard (BSC) is a strategic planning and performance management tool used by organizations to align business activities with the vision and strategy of the organization, improve internal and external communications, and monitor organizational performance against strategic goals.
It was developed by Robert Kaplan and David Norton and provides a balanced view by measuring performance across four key perspectives:
- Financial Perspective – How do we look to shareholders?
- Customer Perspective – How do customers see us?
- Internal Business Processes – What must we excel at?
- Learning and Growth – How can we continue to improve and create value?
