A key benefit of using a disciplined framework is that it gives organizations a way to “connect the dots” between the various components of strategic planning and management, meaning that there will be a visible connection between the projects and programs that people are working on, the measurements being used to track success (KPIs), the strategic objectives the organization is trying to accomplish, and the mission, vision, and strategy of the organization.
The name “balanced scorecard” comes from the idea of looking at strategic measures in addition to traditional financial measures to get a more “balanced” view of performance. The concept of balanced scorecard has evolved beyond the simple use of perspectives and it is now a holistic system for managing strategy. these two applications of Balanced Scorecard require substantially different design and development processes, and provide different benefits to a management team. Measure and monitor progress towards strategic targets APPLYING THE BALANCED SCORECARD IN THE PUBLIC SECTOR.The Balanced Scorecard (or balance score card) is a strategic performance measurement model which is developed by Robert Kaplan and David Norton. Download Your Free WordPress PDF tutorial for beginners step by step. Prioritize projects, products, and services Robert Kaplan & David Norton Biased scorecard for the.Align the day-to-day work that everyone is doing with strategy.Communicate what they are trying to accomplish.The balanced scorecard (BSC) is a strategic planning and management system. Organizations use BSCs to:
