TBS - Balanced Scorecard

Question 1

What is a balanced scorecard?

Answer 1

A performance measurement system that includes both financial and non financial measures from 4 perspectives:

1 financial
2 customer
3 internal business processes
4 learning and growth

Question 2

Advantages of Balanced Scorecard

Answer 2

• More strategic than systems that rely primarily on financial measures
• Aids in communicating the company’s strategy to all members of the organization
• Helps ensure employees work to achieve the org’s strategic goals.