Balanced Scorecard (BSC)
The BSC offers a framework for identifying organizational strategies to create value. It has four major elements or "perspectives": financial, customers and community, internal processes, and learning and growth. Objectives in each of these four perspectives can be linked together in a cause and effect relationship in the organization's "strategy map." This one page depiction of organizational strategies provides an easily accessible alternative to the old strategic plan. The strategy map, with an accompanying balanced scorecard, becomes the means of communicating strategy throughout the organization, the basis for board and leadership agendas, and a benchmarking system for measuring progress toward strategy execution. It also provides intense organizational focus as well as an effective framework for strategy management.
Go Back