The Balanced Scorecard:
Balances financial and non-financial measures
Balances short and long-term measures
Balances performance drivers (leading indicators) with outcome measures (lagging indicators)
Should contain just enough data to give a complete picture of organizational performance… and no more!
Leads to strategic focus and organizational alignment.
Apart from this it is used for To achieve strategic objectives, quality with fewer resources, eliminate non-value added efforts To align customer priorities and expectations with the customer.
eg Xerox in the period when it was going in loss then anne mulcahy new CEO wanted a strategic map and made its employee to know the situation and asked for support in reducing non profitable things to save the company from bankruptcy