What are the benefits of implementing a balanced scorecard?
Major benefits include increased structure and shared objectives; these often lead to greater financial return. It allows organizations to become more functional and enabled. For specific programs, a balanced scorecard can raise the profile of key projects, which can help with funding and internal support. It’s also possible to use the strategic map that a balanced scorecard approach creates to help guide programs toward success. And it’s catching on. According to Bain & Co., about 70 percent of organizations had at least partially implemented a balanced scorecard by 2006.
