The Balanced Scorecard

A balanced scorecard is a measurement system, management system, and management philosophy that helps translate vision and strategy into actionable objectives and initiatives across four perspectives: financial, customer, internal business process, and learning and growth.

The financial perspective focuses on how the organization appears to its stockholders and sets objectives and measures related to financial performance.

The customer perspective focuses on how the organization appears to its customers and sets objectives and measures related to customer satisfaction, retention, and acquisition.

<p>The internal business process perspective focuses on identifying the internal processes in which the organization must excel and sets objectives and measures related to process effectiveness and efficiency.</p> Signup and view all the answers

<p>The learning and growth perspective focuses on how the organization sustains its ability to change and grow and sets objectives and measures related to employee development, innovation, and knowledge management.</p> Signup and view all the answers

<p>Financial, Customer, Internal Business Process, Learning and Growth</p> Signup and view all the answers

<p>Factors that create long-term value</p> Signup and view all the answers

<p>Only the past: spending incurred, and revenues earned</p> Signup and view all the answers

<p>Creation or destruction of future economic value</p> Signup and view all the answers

<p>Satisfy, retain, and acquire customers</p> Signup and view all the answers