The term Balanced Scorecard (BSC) is a concept developed by Robert Kaplan and David Norton. It is a tool that measures and evaluates a company's practices.
It focuses on measuring four perspectives: learning and growth, internal business processes, customers, and finance, helping to improve efficiency, financial performance, and future decision-making.
One of the great advantages offered by the BSC is that it transforms a linkedin database system of indicators into a management system, which can be useful for mapping strategies to determine which ones are most important.
This tool can complement financial indicators to provide metrics such as revenue, return on capital, and profit, to see which metrics generate the expected conversions.
Likewise, it provides great support when developing strategic initiatives and understanding each of the obstacles that hinder commercial performance.
Therefore, this table is useful at the business level because it consolidates information and data into a single report without having to resort to another resource. This is beneficial because it represents savings in costs, time, and resources.
And this allows executives or leaders of each company to train and guide employees, ensuring that everyone understands the priorities and key needs to meet future objectives .