Saturday, March 10, 2012

Four perspectives of a Balanced scorecard

Four perspectives of a Balanced scorecard

Each objective can be associated with one of the four perspectives a BSC-model consists of. Every perspective has its own characteristics and merits its optimal symbol or representation. The financial perspective has to do with the flow of money and hence a currency sign is more important here than for the other perspectives.

The innovation/learning perspective is related to objectives that want to achieve a higher degree of usable knowledge. Each of the perspectives can be represented by a metaphor that gives a clue about the meaning of the perspective. Financial: money, customer: people, internal: process and innovation/learning: knowledge.