Data Point

Data Point Balanced Scorecard can be defined as a strategic management tool, or a well-structured reporting framework designed to help organisations track, measure, and manage performance in line with their goals.

The Balanced Scorecard turns strategy into clear targets, real-time reporting, and practical actions. Want to know how? - It doesn’t just help formulate an organisational strategy – it helps put it into practice and track its impact in a single framework. So, it can be said that BSC acts as practical guiding system for decision making, problem solving and achieving organisational goals.

Its two simple dimensions include:

Balancing: The key perspectives in an organisation: customers, internal processes, learning and growth, and finance. These areas are connected; progress in one support progress in the others.
Scoring: Choosing a small number of clear, practical performance measures (KPIs) that show whether each perspective is delivering what the strategy need