What (n.d.) stated, “A balanced scorecard (BSC) is defined as a management system that
provides feedback on both internal business processes and external outcomes to
continuously improve strategic performance and results” (What, n.d.). The balanced
scorecard allows for businesses to continually review and improve processes, systems, and
controls, as well as a way to set and track performance goals.
The balanced scorecard focuses on four areas – financial, customer, internal, and growth.
Financial focuses on profitability, customer on customer service, internal on processes and
goals, and growth focuses on employee satisfaction and the information system. (Tucci,
n.d.).
Finally, departments can compare the balanced scorecard areas to see if there is any
overlap or competing and similar objectives that can be adjusted if necessary. With Apple’s
balanced scorecard they focused on shareholder value, market share, core competencies,
and employee attitudes, which has worked well for the company. (Tucci, n.d.).
Tucci, L. (n.d.). What is a balanced scorecard (BSC)?. Tech target.
https://www.techtarget.com/searchcio/definition/balanced-scorecard-
methodology#:~:text=What%20is%20a%20balanced%20scorecard%20(BSC)%3F,org
anization's%20strategic%20goals%20are%20met.
What is a balanced scorecard?. (n.d.). ASQ.
https://asq.org/quality-resources/balanced-scorecard
