1. 2.-Explain the four perspectives of BSC.
1.1. The BSC is a management tool that converts the company's vision into concrete actions through a set of indicators divided into 4 business categories, which are as follows: - Financial - Customer focus - Internal processes - Learning and growth
1.1.1. these 4 items include all the processes that the company requires for its correct operation.
1.1.1.1. The financial perspective of the BSC is the final link of the objectives of each business unit with the organizational strategy, i.e. the ultimate goal pursued in the company, to generate profit.
1.1.1.1.1. customers: focus on what the company needs to do to ensure customer retention and future customer acquisition to provide profitability for the organization. On this depends in large part the generation of revenue that will be reflected in the financial outlook.
1.1.1.2. internal processes
1.1.1.3. This category should identify the strategic objectives that are directly related to the organization's key processes.
1.1.1.3.1. Training and growth
1.1.1.3.2. This category is considered key to the success of the Balanced Scorecard implementation, since most management models currently consider human talent as an essential asset in the success of the company through its performance.
2. 3.-BSC can be used to which purposes?Benefits of measuring the Balanced Scorecard for your organization. Transformation of the vision into measurable objectives: One of the main functions of BSC methodology is to translate the organization's vision into concrete actions that can be developed and measured. To this end, one of the most important tools introduced by the Balanced Scorecard are the indicators (KPI's) that help link an organization's strategy with action plans. 2. Alignment of the entire strategy: the efforts of the entire organization are properly focused and aligned towards the same quest for goal fulfillment.
2.1. 4,- What is "cause and effect relationship" based and relate to the reading subject?
3. The balance scorecard provides managers with the instrumentation they need to future competitive success.it is vital that bsc have an exact understanding of their objectives and the goals they are going to use
3.1. applies the strategy and mission of an organization in a broad set of actions, which provides the necessary structure for a strategic management and measurement system, bsc emphasizes the achievement of financial objectives.
3.1.1. It enables companies to keep track of financial results while observing progress in skills training and acquiring the intangibles they need for future growth