What is the balanced scorecard?

The balanced scorecard is a strategic planning and performance management framework used by business, government, and non-profits to align day-to-day activities with enterprise vision, mission, and values. The balanced scorecard tracks financial and non-financial measures to determine the degree to which the enterprise is performing as desired and when corrective action is necessary.

The balanced scorecard is a widely used management tool, particularly in the U.S., the UK, Northern Europe, and Japan. Enterprises that are comfortable with the rigor required derive significant benefits from it. However, the balanced scorecard requires a great deal of effort to implement and use effectively. Enterprises must have the necessary resources and discipline to make the balanced scorecard successful.

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