The Balanced Scorecard is a business-performance management tool. It helps the organization’s link to the company’s vision to the strategic objectives, measures, targets, and initiatives. The ‘balance’ is brought by a focus on financial and non-financial objectives that are attributed to four areas of an organization. These are the Perspectives: Financial, Customer, Internal Processes and Education.
The methodology starts by identifying a small number of financial and non-financial objectives related to the strategic priorities. This avoids creating costly projects that have no impact on the strategy.
