Principle of Balanced Scorecard
alanced Scorecard approach proposes to develop a strategy maintaining a balance depending on 4 perspectives: Financial, Customer, Internal Processes, Organizational Learning.
The 4 perspectives of BSC
- Financial Perspective
What is the value created for shareholders?
- Customer Perspective
What is the value created for customers?
- Internal Process Perspective
What is the performance of key processes for success?
- Organizational Learning
What is our capacity to grow?
The Strategy Maps are the system's main point. They are the expression of the strategic assumptions and define the cause and effect relationship between the measures of the selected results and the performance determinants.
Every measure selected for a Balanced Scorecard should be part of a chain of cause-and-effect relationships that represent the strategy.
Robert Kaplan, David Norton "The Balanced Scorecard"
The establishment of Strategy Maps requires a more substantive work. The quality control system depends directly on the relevance and credibility of the Strategy Map.
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