Balanced Scorecard Revolutionizes Performance Management, Redefining Success Metrics
The balanced scorecard is a method to help companies focus on more than just short-term financial results. It includes strategy maps to show how different goals are connected. To succeed, companies need to carefully choose key performance indicators (KPIs) and not overload employees with too many targets. KPIs should cover both projects and processes. Software can help track KPIs, but it's important to not have too many pre-defined measures.