Benefits
A balance scorecard has a number of benefits to companies depending on a number of factors. Key among these factors is the use to which the balance score card has been put. A balance score card can be used in operational control and strategic management among other functions.
Used in enhancing the operational control
When used in enhancing the operational control function, the balance score card has several benefits which include increasing the effectiveness with which performance improvement initiatives are monitored; improving understanding of the processes in order to spearhead the process of setting and achieving the organization’s goals. The balance scorecard is very effective in ...
