Balanced scorecard perspectives - aims and measures
Financial perspective of balanced scorecard
Customer perspective of balanced scorecard
Internal business processes perspective of balanced scorecard
Company growth perspective of balanced scorecard
Balanced scorecard links
BALANCED SCORECARD - decision support
Balanced scorecard is a management and strategic planning decision support tool for business and organizations for improving the management performance and achieving strategic targets. It was designed by Robert Kaplan and David Norton as an option for strictly financial measures. In spite of them balanced scorecard uses non-financial measures. It is recommended to use balanced scorecard as a complementary system for the financial analyses. The main difference between these two approaches is that financial analyses are based on historical values, but balanced scorecard is concentrating on future measures.
Balanced scorecard implements mission and strategy by analyzing values divided into four perspectives:
- Financial perspective – in shareholders point of view
- Customer perspective – in customers point of view
- Internal business processes perspective – satisfaction of shareholders and customers
- Company growth perspective – performance improvement
