Balanced scorecard

publication date 21.12.2012

Balanced Scorecard (hereinafter also BSC) is a strategic managerial system that helps convert the company's strategy to grasp (concrete) plans and benchmarks. It helps you adjust the balance between corporate plans. Creates strategic feedback to the success of the strategy implemented. So it is a practical model for measuring business performance.

Method was defined by Robert S. Kaplan and David P. Norton. The problem with most companies is how to ensure that the strategies applied in all activities of the company. Hence, Balanced Scorecard measures the success of the strategy in 4 perspectives:

  • financial
  • customer
  • process
  • learning and growth

How to implement Balanced Scorecard can be found in the description of methods.

Advisor ideas

„The best strategy can be expressed only in one sentence.“ more >>

Jiří Střelec Jiří Střelec

Strategy management mostly seeks and formulates using special tools (such as SWOT analysis, Porter's model, modeling, market research, etc.). Describes a lot of pages. Analyzing large volumes of data. Such preparation will have just working team! Connect to the strategy is necessary, however the whole company. Individual workers should have a strategy easy to understand and easy to put in their own words. Only in this way can be a good strategy to spread the company. This is the reason why management should strategy express in one sentence.

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