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How Does The Balanced Scorecard Help In Improving Performance? |
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Answer» Balanced Scorecard works on the PREMISE that measurement drives performance. Historically, organizations measure performance BASED purely on financial parameters. The Balanced Scorecard approach lays strong emphasis on measuring key strategic parameters not only financial, but also non-financial parameters. By identifying the TOP 4-5 strategic objectives within each of the 4 perspectives, the Balanced Scorecard PRESENTS a comprehensive picture of a COMPANY's strategy. Balanced Scorecard works on the premise that measurement drives performance. Historically, organizations measure performance based purely on financial parameters. The Balanced Scorecard approach lays strong emphasis on measuring key strategic parameters not only financial, but also non-financial parameters. By identifying the top 4-5 strategic objectives within each of the 4 perspectives, the Balanced Scorecard presents a comprehensive picture of a company's strategy. |
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