BALANCED SCORECARD

Balanced scorecard to trace the achievement of financial goals

Balanced scorecard to trace the achievement of financial goals

Introduction

BSC intends to reflect the need for balance between the traditional financial perspective, and three non-financial elements of the customer, internal business processes and innovation / improvement. BSC translates mission and strategy of the organization through a comprehensive set of performance measures to ensure the necessary framework for strategic measurement and management (Kaplan and Norton, 1996). BSC enables companies to track short-term financial results while monitoring their progress in the development and possible acquisitions of intangible assets that generate growth for future ...