Balance Scorecard

The Balanced Scorecard is a strategic management tool that helps organizations measure their performance across multiple perspectives, not just financial results. It incorporates four key areas: financial performance (how the organization is doing financially), customer satisfaction (how well it meets customer needs), internal processes (the efficiency of operations), and learning and growth (the development of employees and organizational culture). By balancing these perspectives, organizations can gain a comprehensive view of their performance and align their activities with their strategic goals, ultimately leading to better decision-making and improved outcomes.