Briefly discuss the four performance perspectives of the Balanced Scorecard Model

Answer 1

The four performance perspectives are:

1 . Financial Perspective—Measures the ultimate value that the business provides to its shareholders. This includes profitability, revenue growth, stock price, cash flow, return on investment, economic value added (EVA), and shareholder value.
2 . Customer Perspective—Focuses on customer wants and needs and satisfaction as well as market share and growth in market share. This includes safety, service levels, satisfaction ratings, delivery reliability, number of cooperative customer–company design initiatives, value of a loyal customer, customer retention, percent of sales from new goods and services, and frequency of repeat business.
3 . Innovation and Learning Perspective—Directs attention to the basis of a future success—an organization's people and infrastructure. Key measures might include intellectual and research assets, time to develop new goods and services, number of improvement suggestions per employee, employee satisfaction, market innovation, training hours per employee, hiring process effectiveness, revenue per employee, and skills development.
4 . Internal Perspective—Focuses attention on the performance of the key internal processes that drive the business. This includes such measures as goods and service quality levels, productivity, flow time, design and demand flexibility, asset utilization, safety, environmental quality, rework, and cost.