What is a balanced scorecard? How does it help an agency improveperformance?
Expert Answer
Balanced scorecard is a performance calculating system where allthe results from various departments are posted. These results areused to calculate the performance of the department and the entirefirm. An agency can use these results and as they are given in anelaborate manner it can use this information to identify the flawsin it’s functions and areas it needs to improve. This helps inmaking strategies to improve those areas and thereby improve theoverall performance of the agency.