- The Balanced Scorecard (BSC) is a strategic planning and management framework that looks at four perspectives—Financial, Customer, Processes, and Learning/growth— to meet and achieve the company’s objectives.
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The BSC helps organizations to:
- Analyze their operational strategy, which allows them to identify and focus on the true drivers of long-term success.
- Turn strategy into action by taking four unique perspectives into account instead of only paying attention to the financial perspective.
- Align their measures with their mission to avoid strategic missteps that can easily happen when short-term measures crowd out long-term goals. - A company using Lean Six Sigma must (for optimal impact) balance both financial measures of success (voice of the business) and customer measures of success (voice of the customer). A balanced scorecard is an excellenttool for doing precisely that.
