Question

What do balanced scorecards do?

a2. Balanced scorecards deliver savings and increased productivity by locating similar, more transactional processes in one location. Balanced scorecards aim at leveraging strategic expertise in the organization to foster growth and continuous improvement.

b2. Balanced scorecards help support a clear line of sight from strategic goals to strategic performance, and provide a concise yet overall picture of an organization's performance. Balanced scorecards determine the eligibility of employees for promotions based on their performance.

c2. Balanced scorecards provide a concise yet overall picture of an organization's performance. They can be used to focus organizations and functions on key strategic activities, to craft responses to goals, and to create metrics to assess the effectiveness of these responses. Balanced scorecards help support a clear line of sight from strategic goals to strategic performance.

Answer 1

A balanced scorecard is a strategic management tool that helps organizations keep track of their performance and achieve their goals. It provides a comprehensive view of an organization's performance by measuring various aspects, such as financial performance, customer satisfaction, internal processes, and employee development.

Step-by-step explanation:

A balanced scorecard is a strategic management tool that helps organizations keep track of their performance and achieve their goals. It provides a comprehensive view of an organization's performance by measuring various aspects, such as financial performance, customer satisfaction, internal processes, and employee development.

For example, a balanced scorecard can help a company understand how its financial performance impacts customer satisfaction, and how employee development initiatives can improve internal processes. By using key performance indicators (KPIs) and metrics, organizations can identify areas for improvement and make data-driven decisions.

In summary, balanced scorecards help organizations align their strategic goals with performance measures, monitor progress, and take actions to improve their overall performance.