Quick Definition

The Balanced Scorecard is a strategic planning and management system used to align business activities with the vision and strategy of the organization, improve internal and external communications, and monitor organizational performance against strategic goals.

Examples

• 1A company uses a Balanced Scorecard to measure its performance across four perspectives: financial, customer, internal business processes, and learning and growth.
• 2A healthcare provider implements a Balanced Scorecard to track patient satisfaction rates, operational efficiency, and staff training levels.
• 3A retail chain uses a Balanced Scorecard to evaluate store performance, customer loyalty, and supply chain efficiency.
• 4A technology firm employs a Balanced Scorecard to monitor innovation rates, market share growth, and employee skill advancements.

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