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What are the four perspectives of balanced scorecard?
The Balanced Scorecard (BSC) is a strategic performance management tool that identifies and improves various internal business or organisational functions and their outcomes. It translates the mission and vision of organisations into measurable actions. The balanced scorecard is anchored on four Key Performance Indicators (KPIs) in perspectives: finance, customer, internal process, learning & growth. Analysing these perspectives will enable the top-level management to make meaningful decisions that shape the organisation's future.
Optimised business performance
The FCIL framework enhances financial oversight, customer satisfaction, and internal process efficiency.
Customer-Centric approach
FCIL helps organisations focus on improving customer satisfaction and retention.
Continuous improvement
FCIL promotes ongoing innovation and workforce development to drive business growth.
Exploring the FCIL metrics
In Balanced Scorecard (BSC), financial key performance indicators perspective includes any key objective that is related to an organisation's financial health and performance. Organisations should continually generate revenues and meets goals such as developing new revenue sources and improving profitability. Steps taken to achieve such goals are tracked and evaluated.
- Optimise resource allocation to reduce waste and lower operational costs.
- Improve financial planning with real-time performance analytics.
- Enhance profitability by eliminating inefficiencies and improving productivity.
The customer KPI in BSC monitors and analyses how the business entity provides value to its customers. It also determines the percentage of customer satisfaction with the company's products or services. Customer satisfaction indicates an organisation's success; how well a company treats its customers can affect its profitability.
- Ensure on-time delivery and high product quality to exceed customer expectations.
- Track customer feedback and defect rates to drive continuous quality improvements.
- Maintain compliance with industry standards for better market positioning.
Balanced scorecard internal business processes of a company define how well it functions. An important aspect of internal process Key Performance Indicators perspective (KPI) is that it answers, "What are we good at"? The answer to this question helps the organisation formulate marketing strategies and drive innovations that result in new and improved ways of meeting customers' needs.
- Optimise manufacturing workflows to reduce delays and increase efficiency.
- Standardise best practices for consistency and error reduction.
- Improve supply chain coordination for timely material availability.
A balanced scorecard's learning and growth perspective is the basis of any strategy. Learning & growth Key Performance Indicators (KPIs) focuses on an organisation's intangible assets, particularly the internal skills and capacities required to support value-creating internal processes. The learning and growth perspective is mainly concerned with the enterprise's human capital, information capital, and organisation capital.
- Encourage innovation and continuous improvement.
- Improve employee engagement and retention strategies.
- Align workforce capabilities with business objectives.
Achieve Measurable Results with the FCIL Balanced Scorecard
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increase in financial performance
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improvement in customer satisfaction
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faster internal processes
Hear it from our customers
MARC ROBINSON
Director, Global Operational Excellence
“By providing a central location to input, analyse and share our KPIs, 'Data Point' enables site management to more easily focus on the entire business as a team. Its ability to allow automated data entry and trend analysis gives us more time for improvement rather than just reporting numbers. Combined with a disciplined approach within our SQDC meeting process, I believe 'Data Point' will help us continually focus on key issues and drive business excellence in all areas.”
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