If you own a business, the one tool that allows you to see potential difficulties in your business and find solutions is a balanced scorecard. In fact, the Center for Management & Organization Effectiveness says a balanced scorecard isn’t just a performance measurement tool, it’s also ‘a tool which allows companies to align activity with strategic objectives, thereby creating a picture of the current status on the strategic continuum.’
But as with everything else, there are dos and don’ts.
Continue reading to find out the six dos and don’ts of a balanced scorecard so you can use it effectively.
The Center for Management & Organization Effectiveness says if you want your balanced scorecard to be effective, remember these key points:
Now that you know the dos, check out the don’ts.
Now that you know the key dos and don’ts to scorecarding, make sure yours is effective.