Analysis of Balanced Scorecard: Learning, Growth and Performance

This report analyzes the Balanced Scorecard, a performance management tool used to translate business strategies into measurable objectives. It emphasizes the learning and growth perspective, highlighting its impact on business performance and sustainability. The report discusses the four key perspectives: financial, customer, internal business processes, and innovation and learning. It explores how each perspective contributes to a comprehensive understanding of the business and its strategic goals. The report emphasizes the importance of aligning these perspectives to achieve excellence in quality control, innovation, and customer satisfaction. The report concludes by underscoring the need for continuous evaluation and refinement of strategies to adapt to the competitive global environment.

Running Head: MANAGEMENT 0
Balanced scorecard – the learning and growth perspective

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BALANCED SCORECARD – THE LEARNING AND GROWTH
PERSPECTIVE
From a long period of time, balanced scorecard is at the leading edge of performance
management that presents a set of measures to the top managers and help to offer a
comprehensive view of the business that further becomes driver of future business
performance and sustainability. From my personal experience, the four perspectives (i.e.
financial, customer, internal business and innovation and learning perspective) in the
balanced scorecard cause a significant impact on the business strategies of the company by
translating them into specific measurable objectives.
In reference to the customer perspective, it demands management to change and
translate their general strategies and mission statement into definite measures that imitate the
factors that actually concern towards customers’ needs and it can be divided into different
categories like quality, time, service, cost and performance. The combination of these factors
defined how the company strategy effectively lead to developing value to its consumers. For
example, quality measures can be set while checking for the defect level as measured or
identified by the customer and therefore, develop necessary strategy to resolve the same.
In relation with internal business perspective, a company can achieve and work upon
the customer expectation effectively only if they strategize on this perspective as superior
consumer performance originates from internal decisions, processes and actions. From this
perspective, managers need to develop various strategies that help in achieving excellence in
quality control and innovation. In addition, they also need to decide what competencies and
processes they must excel at and agree measures for each. Strategy development also needs to
be considered at the time of streamlining internal processes such as technology capability,
manufacturing excellence, design productivity and so forth.

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The next is innovation and learning perspective, where managers have to develop
significant strategies in order to identify various parameters and targets associated to
improvement and creation of value. The global environment is full of competition requires
companies to emphasis on innovation considering both existing and new products and expand
the capabilities to win over the competitors. In financial perspective, measures associated to
financial performance specify whether the business strategy, execution and implementation
are contributing to bottom-line progress and top level management needs to re-examine the
basic assumption of their strategy and mission. Considering all, a winning strategy also
cannot be effectively identify and base upon the measures sets under balanced scorecard as
the scorecard can only interpret an organisation strategy into definite measurable objectives.

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References
Narayanamma, P. L., & Lalitha, K. (2016). Balanced Scorecard-The Learning & Growth
Perspective. Aweshkar Research Journal, 21(2).