How Do You Prepare For Balanced Scorecard Implementation?
The Balanced Scorecard is an instrument used in order to measure and manage the performance levels of a company. It was originally meant for use in the smaller scale activities of a company. Here, the instrument is used in order to compare the smaller scale activities of the company with the larger scale activities of the same, and in order to determine if the company’s objectives and strategies are being attained. For this reason, in order to prepare for balanced scorecard implementation, there is a need to understand the aspects of the instrument. This performance measurement and management instrument generally covers four aspects of a sound business practice: the finance, customers, internal business processes, and learning and growth. The interplay of these aspects determines whether or not a company is performing well. Hence the term balanced; there must be a significant balance amongst these aspects in order to ensure that there is stability within the operational and organizatio
