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In the internal-business-process perspective, managers identify the critical processes at which they must excel if they are to meet the objectives of shareholders and of targeted customer segments.
Conventional performance measurement systems focus only on monitoring and improving cost, quality, and time-based measures of existing business processes. In contrast, the approach of the Balanced Scorecard enables the demands for internal process performance to be derived from the expectations of specific external constituencies.
One recent development has been to incorporate the innovation process as a vital component of the internal-business-process perspective.
The innovation process highlights the importance of, first, identifying the characteristics of market segments that the organization wishes to satisfy with its future products and services, and, then, designing and developing the products
and services that will satisfy those targeted segments. This approach enables the organization to put considerable
weight on research, design, and development processes that yield new products, services, and markets.
Manoj Joshi [email protected]
Manoj Joshi [email protected]
Manoj Joshi [email protected]
