Definition of a Balanced Scorecard A Balanced Scorecard (BSC) is a framework that tracks company performance and aligns goals by measuring results across four perspectives: Financial, Customer, Internal Processes, and Learning & Growth. The Balanced Scorecard is not just a measurement tool, but a strategy management system. It helps organizations translate vision and mission into actionable objectives, align teams around common goals, and track progress across both financial and non-financial dimensions.
Balanced Scorecards are essential for every level of the organization to understand how day-to-day activities support overarching goals. This guide explains how to create a balanced scorecard from scratch, offering actionable steps for product managers and strategy consultants.
What is a Balanced Scorecard Strategy? A Balanced Scorecard (BSC) Strategy is a strategic planning and performance management framework that helps organizations translate their vision and strategy into clear, measurable objectives across multiple perspectives that include more than just financial results. Instead of focusing only on profits or financial outcomes, the Balanced Scorecard Strategy balances different dimensions of success that drive long-term growth.
