Balanced Scorecard

Need a framework for strategic planning and management? Use a balanced scorecard (BSC). Organizations can use it to prioritize tasks and projects, communicate their goals, track their progress toward strategic goals, and link workers' daily work to the organization's overarching plan of action. The framework strives to strike a balance between strategic and financial progress, giving decision-makers a more complete picture of an organization's performance. With the use of the balanced scorecard system, businesses may link strategic planning with operational management.