Globally, less than 10% of strategies formulated are effectively executed. The challenge most companies face is to have a robust and balanced strategic management system. The Balanced Scorecard Concept (BSC) operationalizes the vision and creates a system of linked Objectives, Measures, Targets, and Initiatives to help companies effectively execute their strategy. The Scorecard can be cascaded down into business divisions at operational levels to create an Enterprise-wide Performance Management System.
The BSC has also been actively used by CEO’s and the HR function globally to drive enterprise, but more importantly individual performance, and build a performance oriented culture.