Balanced scorecard is a management system that enables your organization to set, track, and achieve its key business strategies and objectives.
The Balanced Scorecard was developed in the early 1990s by two guys at the Harvard Business School: Robert Kaplan and David Norton. The key problem that Kaplan and Norton identified in the business of the day was that many companies tended to manage their businesses based solely on financial measures.
What benefits will bring me the controlling system:
- A system of indicators (key performance indicators) easy to understand and follow
- The harmonization of indicators part of main 4 directions of business life of each company: operational, financial, processes, learning. You will be able to quantify in financial terms the impact that fulfillment / not fulfillment of the operational plans (production, sale, etc.) has in the profit and loss account and the possibility to adjust targets throughout the year depending on the achievements of previous period
- You will not implementonly a measurement system for the commitment stated, but you will be able to set and meet the strategic objectives of the company
- Strategy map
- Performance measures
- Initiatives (strategic projects )
- Performance analysis
- Alignment – Cascading