The management of a firm uses the balanced scorecard for a lot of reasons. Management is advised to use a Balanced Scorecard as it helps to;
- Develop organizational performance by measuring what is essential.
- It boast focus on strategy and results.
- It help to merge organization strategy with workers on a day-to-day basis.
- It is based on the drivers key to future performance.
A balanced scorecard is simply known to be a type of strategic management performance metric that helps firms to known and improve their internal operations.
It also point out the design of performance reports and dashboards by making sure that management reporting is based on the most vital strategic issues.
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