Success in Crypto Market: How the Balanced Scorecard Boosts Performance
The Balanced Scorecard (BSC) is a strategic planning and performance management tool developed by Dr. David Kaplan and Robert S. Norton. Now, let’s delve into how this tool can be a winning formula for crypto businesses.
Crypto asset service providers are complex organizations operating in a dynamic and competitive environment. In such an environment, tracking organizational performance solely based on financial indicators wouldn’t be an accurate approach. Other factors like customer satisfaction, platform security, innovation, and compliance also need to be monitored and reviewed periodically. Today, I’ll briefly discuss the potential benefits of the Balanced Scorecard (BSC), a proven tool in the web2 world, for the web3 world.
The BSC can be defined as a strategic planning and management tool that helps align organizational processes with the organization’s strategy and vision. An organization using the BSC considers not just financial matters but also customer feedback, internal processes, and learning and growth opportunities during periodic performance evaluations.
