Balanced Scorecard Basics

A rudimentary understanding of balanced scorecard basics is necessary to succeed in business management.  Roughly defined, the balanced scorecard (BSC) refers to a strategic planning and management system used to oversee key business processes.  Communicating goals and targets, ensuring daily processes are aligned with strategy, prioritising services and projects, monitoring progress in accordance with strategic goals and so on. The BSC lies at the heart of strategic planning and management, enabling the business to produce the results required to remain competitive.  Regardless of the size or nature of the business, a working understanding of the balanced scorecard can significantly enhance strategic management efficiency and effectiveness.

This ‘Balanced Scorecards Basics’ tutorial has been designed for business owners, managers and anyone looking to gain a better understanding of the balanced scorecard.  Explore the purpose and value of the balanced scorecard, along with the balanced scorecard dashboard and the process of creating and working with a viable BSC.  Study a breakdown of the effective balanced scorecard, a sample tactical action plan and the wide-reaching benefits of strategic planning.