The Balanced Scorecard - Simplest explanation ever

The video explains the balanced scorecard, a model by Kaplan and Norton, which balances financial and non-financial performance measures for long-term business success. It highlights the importance of aligning business activities with strategic goals and introduces the four perspectives: financial, customer, learning and growth, and internal processes. The video also discusses key performance indicators (KPIs) and the strengths and weaknesses of the balanced scorecard, emphasizing the need for regular updates and resource investment to maintain relevance.

Discuss the importance of employee learning and growth in the context of the balanced scorecard.

How can the balanced scorecard encourage long-term strategies in a business?

What resources are necessary to keep the balanced scorecard relevant over time?

What challenges might a business face when trying to balance all perspectives in the balanced scorecard?