Balanced Scorecard (BSC)
A strategic planning and management system used to align business activities with the vision and strategy of the organization, improve internal and external communication, and monitor organizational performance against strategic goals.
What does Balanced Scorecard (BSC) means in HR:
The Balanced Scorecard (BSC) is a framework that translates an organization's mission and strategy into a comprehensive set of performance indicators. It provides a balanced view of performance by taking into account four key perspectives: financial, customer, internal business processes, and learning and growth.
This approach helps organizations not only track financial results but also monitor progress in building capabilities and acquiring intangible assets they need for future growth.
In the age of digitalization, analytical tools and AI can automatically collect data for the BSC, providing leaders with up-to-date information and predictions, which allows for faster and more informed strategic decision-making, as well as better alignment of operational goals with the company's long-term vision.
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