Dear Govind
BSC is the corporate performance management system that is used for underpinning the performance of the organization from four different dimensions such as
Financial
Customer
Internal process
Employee/Learning
these four dimensions will provide accurate insights on how the organization is faring with respect to planned objectives by the organization for a particular period (mostly an year)
the first step is to identify the objectives (assuming the vision/mission is clarified) for each of the four dimensions. Then KPIs or measures are developed for assessing the achievement of the defined objectives. The measures will have a timeline or target and the necessary initiative to be taken towards the same
an example
Objective - Value proposition maximization
Measure - CSAT score
Target - 95 % & above
Initiative - setting up the CSAT survey (design & implementation)
this is very simplistically defined. Hope this would help you having basic understanding of the concept
regards
Rajesh Balasubramanian
Senior consultant - HRC
Ma Foi consulting solutions Limited, Chennai
+91 97909 21413