Review:
Balanced Scorecard
overall review score: 4.5
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score is between 0 and 5
The Balanced Scorecard is a strategic performance management tool that helps organizations track and monitor their key performance indicators.
Key Features
- Measures both financial and non-financial metrics
- Aligns organizational goals with strategic objectives
- Provides a comprehensive view of organizational performance
- Promotes communication and collaboration within the organization
Pros
- Helps organizations focus on both short-term and long-term goals
- Encourages a balanced approach to performance measurement
- Facilitates communication across different departments
Cons
- Implementation can be time-consuming and costly
- Requires ongoing monitoring and adjustments to remain effective