What Is The Use Of A Balanced Scorecard In Organisations?
Balanced scorecard | Image Resource: callcentrehelper.com
Organisations need to measure their management performance as it helps to improve internal functions and the resulting outcomes. A metric is required to measure the performance. The output of this can be used by organisations to make better decisions in the future.
Organisations need to find out the factors that drive their business and what is the key to their business. Balanced scorecard (BSC) have been used by many companies as a performance metric. It is a performance management tool and is used to measure and provide feedback to organisations.
It is used to measure the intellectual capital of an organisation that gives it a competitive advantage. It involves measuring the four main areas of a business: Learning and growth, Business processes, Customers and Finance. It allows organisations to collect information in one...