Question

Write a 300-word journal on what you get out of the four perspectives of the Balanced Scorecard----financial, customer, internal business process, and learning and growth----are crafted to achieve a designated strategy.

Answer 1

The most appealing perspective I find is the "internal business process"

In this perspective, managers identify the critical business processes in which the organization should gain strength on.

A well structured and defined process will deliver true value which will help in retaining customers as well as gain excellent financial retains

The key to this perspective is the design of the process, implementation and control which enables consistent quality products and services.

The critical task is design of the process which involves micro study of the entire process. Once the design is ready it has to be brought on paper as a standard procedure and implemented on ground. Next step is monitoring of the process which requires identification of the key variables which need to be monitored. This entire cycle makes up for a stable system in the organization which has written processes and proper monitoring system of each process leading to defect free and efficient processes.

Thus internal business processes have a close linkage to the other perspectives of Balanced scorecard which directly or indirectly are affected