The Role of the Balanced Scorecard in Adopting and Implementing Business Strategy

The balanced scorecard is a management system that enables organisations to clarify their vision and strategy in order to translate them into action. It provides feedback for both the internal business processes and external outcomes in order to improve strategic performance and results. The balanced scorecard suggests that we view the organisation from four perspectives: financial, customer oriented, business process and learning and growth. It also helps in determining features that help measure progress in achieving strategic goals. Balanced Scorecard is helpful and therefore it should be recommended organisations.