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4. Balanced Scorecard
• The BBS identifies four aspects of performance that should be
considered:
– Financial: This aspect considers the financial performance of the
organization, looking for example at the profit generated by sales, the
returns generated by the assets invested in the organization, and its
liquidity.
– Customer: Looking at the organization from the customer perspective
shows how customers view it. For example, the level of customer
satisfaction and the reputation the organization has in the marketplace
are considered.
– Internal Business Process: This perspective shows the internal
processes and procedures that are used to operate the organization.
For example, are the processes focused on reducing costs, to the
detriment of customer service? Is the technology used well to support
the organization in delivering its products & services?
5. Balanced Scorecard
– Learning and growth (also known as innovation): The learning and
growth perspective is concerned with the future development of the
organization. Example of performance areas are the development of
new products and services, the level of creative activity in the
organization, and the extent to which this is encouraged.