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Managing performance by using the Balanced Scorecard (BSC) concept assists banks in appreciating whether their growth strategies are successful or not, and what new initiatives are required to achieve their strategic objectives in the future.
The Balanced Scorecard is one of the favorite performance measurement tools for a company that wants to measure their results at the organizational level.
We live in an era where organizations are focusing their efforts on several key pillars, namely on gaining more market share, attracting more customers or making more profit. In other words, organizations try to be more proficient in achieving their goals.
Cave paintings, grandmother stories, legends and scriptures are the earliest available evidence of Human Knowledge Management. Knowledge represents a critical building block for the growth of an individual, group or organization.
The Balanced Scorecard provides any organization with a homogeneous view on the execution of strategy. It may take several months to several years for the Balanced Scorecard to reach its full implementation within the organization, but the end of the journey can be marked by impressive results.
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