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What is a Balanced Scorecard? |
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Page 3 of 5 Internal Business Perspective
The Internal Business perspective asks: "What do we need to correct within our own business to ensure we deliver the value propositions the market needs and expects?" Say a manufacturer wants to be the low price leader in the market place. It needs to drive down all internal costs of production and marketing. To meet this goal, a manufacturer would need lower labor and material costs than its competitors. Even marketing costs would have to be reduced. Questions about the Internal Business Perspective need to be uncompromising. Perhaps the question should be "What must we be excellent at?" Or, in the words of Jim Collins, "What must we be best in the world at?"
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