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What is a Balanced Scorecard?

A strategic planning and management system that is used to tie business activities to the vision and strategy of the organization, improve internal and external communications, and monitor performance against goals. The balanced scorecard approach measures: four areas of business: internal business processes, financial performance, customer knowledge, and learning and growth.

Successful business processes must aspire to attain a consistent scorecard with a high level in each ares of their business. Such strategy mapping is the best way for any organization to best attain their strategic objectives. Whether the intended final outcome is a rise in financial performance or higher rates of customer satisfaction, by ensuring that all internal processes are meeting their marks and producing a balanced scoreboard will produce the best overall results. Thus providing the best chance of meeting your company objectives.

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