balanced scorecard

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balanced scorecard

A document that translates an organisation’s mission and strategy into a comprehensive set of performance measures which provide the framework for a strategic measurement and management system. The balanced scorecard retains an emphasis on achieving financial objectives, but also includes the performance drivers of those financial objectives. The scorecard measures organisational performance across four balanced perspectives:
(1) Financial (i.e. cost efficiency)
(2) Customers
(3) Internal business processes
(4) Learning and growth (i.e. making changes and sustaining improvements).
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The Balance Scorecard is a widely accepted methodology that provides an enterprise view of an organization's overall performance by integrating financial measures with key performance indicators.