David Norton and Robert Kaplan initially presented the balance scorecard (BSC) in 1992. The leading and trailing indicators, which can be viewed as the forces behind and results of the company’s objectives, respectively, are balanced in this performance management metric. Organizations utilize it as a strategic management metric to collect data, measure it, and give them feedback so they can make decisions more effectively.
The four primary facets of a firm are measured by the balanced scorecard:
Growth and Learning in Business Procedures
Consumer Finance.
A business using a balanced scorecard will be able to: Explain the plan.
Analyze the plan.
Monitor the activities to enhance the outcomes.
