The Integrated Approach Of Using The Four Key Components In The Balance Scorecard To Achieve Company’s Strategic Goals

From earlier articles, we understand that a balanced scorecard looks at the following four fundamental performance areas of an organization and set major/crucial measures/matrix/key performance indicators for them:-

1. Financial performance

2. Customer satisfaction

3. Internal operations

4. Learning and innovation

By taking such integrated approach, the Balanced Scorecard is able to balance the vision and mission of the organization with everyday operations. In simple term, a strategic scorecard can help an organization identify the few core functions that translate its vision into reality.

Below explain each performance areas with its relevant measures and its purposes:-