Balanced Scorecards are core to strategic planning. They are used by over 40% of organisations in commerce and industry and government to align activities to vision and strategy by monitoring performance against quantified objectives.
The approach combines forward looking performance measures and historical financial metrics to give managers a 'balanced' view of organisational performance.
Today, global leaders underpin decision making with “dashboards" of performance measures. For them, the Balanced Scorecard has evolved into a fully integrated strategic planning and management system. This process drives business planning, budget and execution. It provides a decision making framework using a model complete with performance measurements known as Key Performance Indicators (KPIs).
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