The Balanced Scorecard is a strategic planning and management system that organizations use to align business activities with thevision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals12. It translates an organization’s mission and strategy into a set of performance measures that provide the framework for a strategic measurement and management system1. The Balanced Scorecardapproach provides a clear prescription as to what companies should measure in order to ‘balance’ the financial perspective2.
[References: 1, , https://asana.com/resources/strategic-planning-models, , , https://asana.com/resources/strategic-planning-models, , , , ]
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