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Why Consultants Value the Balanced Scorecard

Holistically evaluate a company's strategy and performance—beyond the financial books—using the balanced scorecard.

7/19/2016 | Business Strategy | 1 minute read

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Revenue numbers may speak to the current health of a company, but assessing qualitative factors like employee morale and customer satisfaction will provide additional insight on where organizational improvement or change is required to achieve long-term success.

The balanced scorecard is a framework for tracking a comprehensive set of business objectives that can be measured over time. Common components include:

  • Revenues
  • Earnings
  • Market share
  • Quality
  • Employee morale
  • Customer satisfaction metrics

By tracking this data, consultants can help their clients keep long-term strategic goals in focus and spot trouble before it appears in the financial statements.

Read the Harvard Business Review article, written by scorecard creators Robert S. Kaplan and David P. Norton, for an effective framework for evaluating performance and a balanced scorecard example.

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