Balanced Scorecard (BSC) is defined as a management system that provides feedback on both internal business processes and external results to continuously improve strategic performance and results.
The name “Balanced Scorecard” derives from the idea of looking at strategic measures alongside traditional financial measures to get a more “balanced” view of performance. The Balanced Scorecard concept has evolved from simply using perspectives to a holistic system for strategic management. In addition to financial performance, the
Scorecard provides management with valuable insight into an organization's service and quality. By measuring all these metrics, leaders can educate, guide and support their employees and other stakeholders.
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