The balanced scorecard
A large Management Development community I track has been discussing how we could have prepared people better for the current troubles, and some have advocated the Balanced Scorecard [BSC]. I have used BSC in strategy teaching for some years, and come across BSCs in many companies. My impression is that, whilst it is a valuable extension to standard financial reporting systems, it has some limitations as a tool for managing strategy – limitations that the down-turn has exposed quite sharply.