The Balanced Scorecard (BSC) contributes to a company's profitability by improving strategic communication and execution, aligning processes, and enhancing performance reporting. It provides a framework that translates a company's strategic objectives into a set of performance measures. These measures are balanced between financial objectives and the drivers of future financial performance, such as customer satisfaction, internal processes, and the organization's ability to learn and improve. This balance allows companies to avoid over-concentration on short-term financial results at the expense of long-term success.
Strategic planning is a crucial aspect of a business’ success. That is why Apple, Volkswagen, UPS, C...
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