The Balanced Scorecard (BSC) has been one of the most enduring management tools of the last twenty years.
Surveys have revealed that more than 60% of Fortune 500 companies have implemented the Balanced Scorecard framework. One study suggests that it is the most widely adopted performance management tool used by companies. However, while the BSC continues to be described as one of the most important business tools for organisations across the world by corporate leaders and strategists, there are many companies that have not implemented the BSC or have refreshed it as strategic roadmaps are updated for today’s slow growth operating environment.
Implementing or refreshing the BSC reinforces the strategic plan throughout all levels of the organization and helps everyone understand the linkages between strategy and performance.