Final answer:
The Balanced Scorecard (BSC) is a strategic performance management tool that provides a balanced view of an organization's performance. It includes four perspectives: financial, customer, internal process, and learning and growth.
Step-by-step explanation:
The Balanced Scorecard (BSC) is a strategic performance management tool that helps organizations monitor and measure their performance from multiple perspectives. It was developed by the APICS DEF institute to provide a balanced view of an organization's performance.
The BSC framework includes four perspectives: financial, customer, internal process, and learning and growth. Each perspective focuses on different aspects of an organization's performance and is linked to specific objectives and measures.
For example, the financial perspective looks at financial indicators such as revenue growth, profitability, and return on investment. The customer perspective evaluates customer satisfaction, loyalty, and market share. The internal process perspective examines the efficiency and effectiveness of internal processes. And the learning and growth perspective considers employee training, skills, and innovation.