The balanced scorecard methodology is a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to create a more ‘balanced’ view of organizational performance. Four strategic perspectives are addressed in the “Balanced Scorecard framework”:
- Internal Processes
- Learning and Growth (aka “Organization Capacity”).
Today, Balance scorecards have changed from being a simple performance measurement framework, to a highly evolved strategic planning and management system. These cards enable an organization to turn a standard strategic plan into a comprehensive call-to-action. If your organization overlooks these changes, this could have a negative effect on the management of staff activities. When you use balance scorecards in your organization, you are on your way to achieving elusive goals and gaining a competitive advantage in your product or service market.
Balanced Scorecards ensure accurate Performance Management and the BI Consulting Group’s BI Balanced Scorecards can help you to translate vision and strategy into an integrated set of performance and action measures and, more importantly, cascade this measurable information down through the organization so that everyone is operating with the most current, concise information.
Our balanced scorecard functionality provides you with a dynamic and adaptive environment wherein your managers, team members and individual contributors can monitor and easily understand results and make appropriate changes to strategy, processes, assignments and tasks – quickly and with confidence!