Benefiting from the Balanced Scorecard

Benefiting from the Balanced Scorecard - http://www.bnet.com Avatar Posted by suzyQ under Strategy
From http://www.bnet.com 5100 days ago
Made Hot by: on October 31, 2007 3:33 pm
Harvard professors Robert Kaplan and David Norton developed the balanced scorecard to help translate vision and strategy into action. This technique can make strategic planning a core part of any business. They showed that financial analysis, which is largely a look backward over past performance, isn't enough to guide long-term investment decisions. That information alone doesn't demonstrate how an organization can create future value. The balanced scorecard uses a more holistic approach to analyzing how information is gathered and used to deal with investment decisions and other issues. In addition, it acknowledges the importance of input from customers, suppliers, and staff; as well as data concerning processes, technology, and innovation, to help organizations create a desired future.





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