Building Your Plan

The Balanced Scorecard (5 mins)video

Erica Olsen explains the basic concept of the balanced scorecard and how businesses use it to monitor and guide their performance. Briefly, the Balanced Scorecard, popularized by Robert Kaplan and David Norton, is a method for monitoring whether a company is meeting or will meet its strategic objectives. Key Performance Indicators (both lagging and leading) are broken into 4 areas of focus: Financial, Customers, Operational and People. These indicators are monitored on a regular basis and organized as a Scorecard for determining current company status.
For more resources on building your strategic plan, view our Essentials Guide to Strategic Planning.



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