MM 11 Balanced Scorecard

One tool has proven particularly effective for documenting a company's strategic activities: the Balanced Scorecard. Developed by Robert S. Kaplan and David P. Norton, this method assigns a company's vision to four areas: financial perspective, process perspective, potential perspective, and customer perspective. The Balanced Scorecard arose from the need to find a universally valid and transferable method for strategy development, as conventional numerical systems were too complex and mathematical.

Business speaks in numbers, and the Balanced Scorecard succeeds in communicating a company's strategy and vision using measurable values. That's why it has been an extremely popular tool for this purpose since its invention.

Conclusion:
The Balanced Scorecard allows a corporate strategy to be expressed in measurable terms. Its limitations lie in the potential for incalculable risks.

In the context of:

Q: Q01, Q03, Q06, Q08, Q09, Q11, Q12, Q14, Q15, Q16, Q17, Q18, Q19, Q20

E: E16, E17

T: T01, T02, T04, T05, T07, T10, T11, T14, T16