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– Nelson Mandela

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Q Watch the video and respond to the following: • What is the Balanced Score card? • Why is it important? • What would happen if a business ignored the Balanced Score card?

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In order to continuously enhance strategic performance and outcomes, a balanced scorecard (BSC) is a management system that offers feedback on both internal company processes and external outcomes. A balanced scorecard is a strategic management performance statistic that aids organizations in recognizing and enhancing their internal processes in order to enhance their external results. It evaluates historical performance information and offers organizations advice on how to make better decisions going forward.