What is a balanced score?
In business, a balanced Scorecard (BCS) is a management strategy that applies to customer satisfaction, financial management, existing business processes and learning and growth efforts for organization. Scorecard results are used as indicators for aligning business activities against the organization's strategy. This approach attempts to improve internal and external communication while monitoring the overall organizational performance against strategic goals.
The Balanced Scorecard strategy was first introduced by Dr. Robert Kaplan and Dr. David Norton as a way of measuring performance, which added three other performance measures to the traditional financial metrics of the organization. This framework has been designed to provide executives a more realistic view of the overall performance of the organization. While financial information provides the status of the organization, it is usually a historical nature. Balanced Scorecard equally Weighs Future Performance Indicators, such as customer satisfaction and efforts to modernize in an effort to assess realThe status of the organization. CRM is designed to help the company identify and focus on the best customers of the organization. This process is trying to improve customer satisfaction and shorten the marketing time by identifying the company's most profitable customers.
The most profitable customers will usually be provided by the highest level of services. Most large business organizations use CRM techniques in their call centers. This software represents an analyst call center before answering the phone, allowing it to bring products to the market based on information in the customer's profile.
Commercial processes management is another Funderemntal element of BCS. Key metrics are created within the Balanced Scorecard Framework based on existing trading processes. These metrics provide managers with information that helps measure the effectiveness of products and services based on customers' feedback. Some simplyCHE Examples of business process management could include the order completion time and waiting time for customers with call centers. By measuring and improving the existing business processes of the organization, future profits can be recalled.
One of the most unique areas of the BCS strategy is the future modernization effort based on the learning and growth of the workforce. The area of learning and growth of business is important to monitor because it defines the future of the organization. Within a balanced Scorecard, this aspect includes professional training of employees and corporate objectives related to the improvement of individual and business modernization. Due to the rapidly changing IT technological environment, it is important for organizations to monitor the capabilities of the current workforce