The problem that many companies face when it comes to performance measurement is that they are trying to measure too much. The result is a lack of vision and strategy, a lack of coherence down and across the organisation and a failure to drive the behaviours and results they seek. The Balance Scorecard is a performance management framework that seeks to address these shortcomings. It enables organisations to develop a clear vision and strategy and put these into practice.
On completion of this course, you will gain an understanding of:
- what the balanced scorecard is and its purpose
- its importance in terms of strategy and its delivery
- the 4 perspectives - customer, financial, business process and innovation and learning
- the inevitable interdependency of measures and cause and effect outcomes.