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Perspectives of the Balanced Scorecard

Assume the CFO of your organization approaches you to ask your advice about implementing the Balanced Scorecard at your organization.

a) List and describe the four perspectives of the Balanced Scorecard.

b) What steps would you encourage him or her to take in order to successfully implement and use the Scorecard?

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The balanced scorecard consists of four main perspectives with each area representing a different feature of the business organization in order to operate at their best possible capacity. These four perspectives are:

1. Business process perspective - A scorecard based on this perspective shows managers how well their business is operating and whether or not its daily activities are supporting the organization's main goals and objectives. The two kinds of processes related to the balanced scorecard are mission processes, which enable the delivery of the organization's overall mission, and support processes, which are the recurring tasks employees perform in the ...

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