What are the main benefits of a Balanced Scorecard?
The potential benefits of a Balanced Scorecard depend on what it is to be used for. Simply having a Balanced Scorecard is not enough – the Scorecard will only be useful if it is applied correctly. Although many different types of organisation are using Balanced Scorecard, in many different formats, there are two distinct applications: Management Control and Strategic Control. Although visually similar, these two applications of Balanced Scorecard require substantially different design and development processes, and provide different benefits to a management team. 2GC summarises the benefits of well-designed and implemented Balanced Scorecards of both types.
