The balance scorecard is used by both financial and non-financial measures to make self-improvements to an internal functioning component
The balance scorecard is used by both financial and non-financial measures to make self-improvements to an internal functioning component are factor throughout a company. This tool is used to evaluate how a company makes strategic decisions based on financial outlook, consumers view, employee development, internals process management.
A company is are not just a financial place, there is the side to companies that are some times not thought of which is the non-financial part of a company which it need to have running effectively are a company will possible fail. These are the areas such as human resources the are making sure employees are treated fair and if they have issues, they will be addressed. This help reduce a company’s retention rate which saves money on training. Additionally, there is your customer service department that ensures the consumers areas of concern are addressed they help to ensure customers do repeat business. These are just a few areas of non-financial measures.
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