So, you might have guessed it, but I really like the Balanced Scorecard as a strategic performance management tool. It makes a lot of sense to me, but I would add one more thing to it and that would be to add another perspective called, ‘External Environment’. The question the perspective would ask the Manager here is, “In order to be successful, what external forces do we need to respond to?”
The BSC generally takes a holistic approach to strategic performance management, but the it’s all very inwards looking. I get it; we’re monitoring internal performance. But that’s working with the assumption that internal forces are the only ones that matter and we all know that, that is wrong.
What do you think? It was just a thought that came in to my head.
Read more at my new Balanced Scorecard Information Hub here: www.what-is-balanced-scorecard.com. I’ll be updating and adding loads more information as time goes on, so hopefully this will be a great resource to all those interested in the Balanced Scorecard.