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Often, business owners and executives fall prey to the allure of setting too many financial goals. Or, their goals are exclusively financial. This detracts from the other reasons you’re in business, such as employing people, contributing to your communities, or providing a needed product or service. Enter the Balanced Scorecard.
The Balanced Scorecard is an excellent management tool that ensures you have a holistic and balanced strategy as well as a way to track performance over time to assess if goals are being met.
Check out this video on Strategic Planning with the Balanced Scorecard to make sure your strategy is holistic and balanced!
Dec 23, 2012 @ 12:21:49
I think there is a serious confusion among professionals and excutive managers on how differentiate between balanced scorecard and strategic planing. Some of the expertise believe there should be a strategic planing before balanced scorecard. But others argue strategic planning and balanced scorecard can not be exist separately. The later consider strategic planning as shelf value with out balanced scorecards. Which one is true. I am on my way to reform my company using this two things either together or separately.
Dec 27, 2012 @ 13:09:41
Hi TeteKa, We believe it’s important to build the Balanced Scorecard principles into your strategy for the best results. Our software, MyStrategicPlan, is already structured to make it easy to achieve the balanced priorities and track results as the scorecard process requires. If you’d like more information about the Balanced Scorecard feel free to check out these additional resources:
http://mystrategicplan.com/create-a-holistic-strategy/ and take a free balanced scorecard assessment here.