The Vision and Strategy of Balanced Scorecard

“The more you see of the present, the more you can see the future”, the practice of Balanced Scorecard has proved this proverb true.  Balanced Scorecard (BSC) is a strategic performance management tool and not a diagnostic one.

It helps to define and link objectives and priorities in the following four business perspectives:

a)    Financial

b)    Internal Business Process

c)    Learning and Growth

d)    Meeting Customer expectations

The single biggest reason why companies’ Performance Management & Business Intelligence fail is they over-invest in what is, as opposed to what might be. Balanced Scorecard methods provide strategy maps and cause-and-effect diagrams to visualize the organisation’s strategic objectives on a single page and shows how to design meaningful and relevant key performance indicators.

Having this strategy in place leads to clarity of communication and execution and so focus on future performance.  It thus leads to better strategic and organizational alignment and so on to improved performance. BSC shows you how to clarify your strategic objectives, measure performance and manage performance.

Masterclass in Balanced Scorecard organized by UNICOM will provide a clear insight into how the BSC can be used to drive performance management and aligning the BSC with other key business processes such as budgeting, risk management, project & programme management, analytics and performance reporting.

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2 responses to “The Vision and Strategy of Balanced Scorecard

  1. Pingback: Conferința Balanced Scorecard Romania « Blogul Balanced Scorecard Romania·

  2. Pingback: Strategic scorecard – a useful tool from CIMA « Martin Quinn's management and financial accounting blog·

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