{"id":4291,"date":"2020-11-18T09:54:54","date_gmt":"2020-11-18T09:54:54","guid":{"rendered":"https:\/\/infyblog.zluck.in\/?p=4291"},"modified":"2025-07-17T07:37:34","modified_gmt":"2025-07-17T07:37:34","slug":"balanced-scorecard-strategic-management-system-2","status":"publish","type":"post","link":"https:\/\/infyom.com\/blog\/balanced-scorecard-strategic-management-system-2\/","title":{"rendered":"Balanced Scorecard : Strategic Management System-2"},"content":{"rendered":"\t\t
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In the last Blog we have discussed the basics of BSC, let’s start a discussion about four perspectives of BSC.<\/p>

A Balanced Scorecard looks at an organization from four different perspectives to measure its health, each of these perspectives focuses on various sides of the company and creates a balanced view of the organization.<\/p>

And yes all four areas of BSC are interrelated; we cannot ignore any out of four to the success of the organization.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\"Financial\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Financial Perspective:<\/h2>

This perspective views organizational financial performance and the uses of financial resources.<\/p>

We need to focus on two points:<\/h2>
  • Is the company achieving its financial goals?<\/li>
  • How well do the strategies and operations contribute to improving financial health?<\/li><\/ul>

    Well, now the question is how we can measure the output from a financial perspective?<\/p>

    These data are always past-focused, we need to gather two types of data.<\/p>

    1. Historical Data: How did we do last month, last week, last year, and so on.<\/li>
    2. Current Data: How are we doing right now, Today?<\/li><\/ol>

      For instance,<\/p>

      1. Our net profit for the year versus last year<\/li>
      2. Our sales revenue this year versus last year<\/li><\/ol>

        These measures of corporate performance are based on history and also vary from organization to organization.<\/p>

        As the BSC is a holistic approach, any key objectives that are related to the company’s financial health and performance may include in this perspective as given below:<\/p>

        1. Cost Saving and Efficiencies: Specified Goals: Reduced production cost 10% by 2021<\/li>
        2. Profit Margins: increase operational profit Margins<\/li>
        3. Revenue Sources: adding new revenue channels\/department\/products<\/li><\/ol>

          In the end,<\/p>

          • Are you making money?<\/li>
          • Are your investors happy?<\/li><\/ul>

            If yes then be happy…<\/p>

            The financial health of your organization may be an indicator of your past decisions but still incredibly important.<\/p>

            Money keeps the company alive and the financial perspective focuses solely on this.<\/p>

            Internal Process Perspective:<\/h2>

            This perspective views various organizational processes and the efficiency of the particular process.<\/p>

            1. From this view, the question should be asked what internal processes have added values within the organization and what activities need to carry in the organization (In all three perspectives).<\/li>
            2. The internal Process perspective looks at how smoothly your business is running (Here, Efficiency is important )<\/li>
            3. It’s all about,<\/li><\/ol>
              • Reducing waste,<\/li>
              • Speeding process\/ production<\/li>
              • Doing more with less<\/li><\/ul>

                We need to focus on three points:<\/h2>
                • Is the company improving the critical process?<\/li>
                • Are there any obstacles standing between ideas and execution?<\/li>
                • How quickly can you adapt to changing business conditions?<\/li><\/ul>

                  This perspective answer the question :<\/p>

                  “what process we must excel at to satisfy our shareholders\/financial Backers and customers?”<\/p>

                  To know more about BSC please read my weekly Blog.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\n

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                    \n\t\t\t <\/ul>\n <\/div> \n","protected":false},"excerpt":{"rendered":"

                    In the last Blog we have discussed the basics of BSC, let’s start a discussion about four perspectives of BSC. A…<\/p>\n","protected":false},"author":2,"featured_media":4293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"postBodyCss":"","postBodyMargin":[],"postBodyPadding":[],"postBodyBackground":{"backgroundType":"classic","gradient":""},"two_page_speed":[],"footnotes":""},"categories":[44],"tags":[137],"class_list":["post-4291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-human-resource","tag-strategic-management"],"yoast_head":"\nBalanced Scorecard : Strategic Management System-2<\/title>\n<meta name=\"description\" content=\"Delve into Balanced Scorecard\u2019s Financial & Internal Process perspectives, measure financial health, process efficiency, and strategic value.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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