Back to Basics: A Tool for Anyone
Balanced scorecard is useful throughout the organization
- Quality Progress
- May 2011
- Volume 44 Issue 5
- pp. 72
- Laman, Scott A.
- Teleflex Medical Inc., Reading, PA
The balanced scorecard is used to align business activities to an organization’s strategy and monitor organizational performance versus strategic goals. The scorecard traditionally contains information related to four categories: learning and growth, internal business process, customers and financial results. Balanced refers to all of the categories being needed to provide a complete picture of the organization's performance. Financial results are the bottom line, but those results are not likely to be achieved without attention to the other categories. Any workgroup or team that wants to clearly demonstrate its performance and value can use this.