The Balanced Scorecard: Translating Strategy into Action

The Balanced Scorecard is a strategic management tool that helps organizations turn their goals into measurable actions. It looks at four key areas: financial performance, customer satisfaction, internal processes, and learning and growth. By balancing these perspectives, it ensures the company focuses not just on profits, but also on building strong customer relationships, improving operations, and fostering innovation. This approach provides a clear view of progress, aligns daily activities with long-term strategy, and helps decision-makers track success across different parts of the organization.