For business leaders, the Balanced Scorecard provides a comprehensive framework that translates a company’s strategic objectives into a set of performance measures. This enables leaders to:
- Align the organization: By linking goals and performance measures, leaders ensure that everyone in the organization understands and works towards common objectives. - Improve decision-making: With a balanced view of performance across multiple dimensions, leaders can make more informed decisions that consider long-term impacts. - Monitor progress: Regularly reviewing the scorecard helps leaders track progress against strategic goals and make timely adjustments.