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Balanced Scorecard provides a critical
link between strategic management and business process
management. In many organizations, this "missing link" has
resulted in the "process paradox": business conditions
(strategic results) falter even though reengineering and
process improvement efforts appear to reduce costs and
improve quality.
Scorecards can assure that the visions
created at the boardroom level are achieved by the
organization. Scorecards communicate strategic objectives
to the workforce in terms that are meaningful.
The overriding goal of a scorecard system
is to make strategy everyone’s job. Scorecards are
leadership tools that help translate strategies into
actions. |