The Balanced Scorecard is a framework that helps organizations translate strategy into operational objectives that drive both behavior and performance.
The Balanced Scorecard is a tool with a number of applications that can be tailored to the situation. It can significantly help:
- Clarify the vision
- Gain consensus and ownership on strategy
- Align the organization
- Integrate strategic planning
- Drive effective resource allocation
- Improve management effectiveness
Using the Balanced Scorecard will help position your people to build strategic capabilities for delivering customer satisfaction and driving financial results to meet your stakeholders expectations.
A good Balanced Scorecard will tell the story of your strategy and include:
- Executive Involvement
- Cause and Effect Relationships
- Performance Drivers
- Links to Budget and Financial
- Change Initiatives
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