IMPLEMENTING THE BALANCED SCORECARD.

All rights reserved. No part of this publication may be reproduced in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher. IMPLEMENTING THE BALANCED scorecard . Checklist 154 INTRODUCTION Traditionally, managers have used a series of indicators to measure how well their organisations are performing. These measures relate essentially to financial issues such as business ratios, productivity, unit costs, growth and profitability. While useful in themselves, they provide only a narrowly focused snapshot of how an organisation performed in the past and give little indication of likely future performance.

The Balanced Scorecard has become an increasingly popular performance management and measurement framework and regularly comes in the top ten in Bain and Company’s most used annual management tools surveys. » DEFINITION The Balanced Scorecard is defined as a strategic management and measurement system that links strategic

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