Balanced Scorecard is a strategic model for managing the organization's performance. Developed by professors from Harvard, Kaplan and Norton, this model is used today by numerous global companies. Through the perspectives of finance, customers, processes and learning and development, it provides a comprehensive overview of the success of the organization. Over the years the model has been improved by adding new perspectives and expanding existing ones.
The Balanced Scorecard enables organizations to translate their strategy into measurable goals and concrete actions. The introduction of this model ensures alignment of strategic goals with operational activities, clear definition of key success indicators (KPIs) and the possibility of monitoring results through all business perspectives.
In this way, companies achieve better coordination of teams, more transparent decision-making processes and greater efficiency. The model not only measures performance, but also helps organizations to respond to changes in a timely manner and improve their competitive position.
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