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Meaning & Definition
balanced scorecard
A balanced scorecard is a performance management tool that looks at financial and non-financial measures to provide a holistic view of organizational performance. It includes four perspectives: financial, customer, internal processes, and learning and growth. The balanced scorecard helps organizations align business activities with strategic objectives, track progress, and identify areas for improvement. By incorporating diverse performance indicators, it promotes a balanced approach to achieving long-term goals and enhancing overall effectiveness.