What is the effectiveness of a Balanced Scorecard?
A Scorecard is in my experience a great tool... when used as a component of a strategy management system. The BSC is a very effective way of communicating in one page a strategy with its strategic goals and strategic initiatives. It shows on the left side "golden whats" and on the right side "golden hows" (strategic initiatives). Measures and accountabilties can be added (but are not primary in my view). I also use the 4 dimensions in a different order: customers are on top, then processes, e... read more