Balanced Vision from Balanced Scorecard for Corporate Strategic Management

Abstract: The Balanced Scorecard is a framework for strategic performance management that has been designed to help an organisation to monitor its performance and manage the execution of its strategy. The concept of Balanced Scorecard is very much significant in the present era of emerging intense global competition. The Balanced Scorecard is an organizational framework for implementing and managing strategy at all levels of an enterprise by linking objectives, initiatives and measures to an organization’s strategy. This article tries to evaluate the various facets of Balance Scorecard approach in corporate strategic management. Despite theoretical superiority and richness, the Balanced Scorecard approach for measuring corporate performance has some practical complexities which are mostly associated with its development and implementation. A strategic orientation driven by actual shareholders’ needs and expectations, focused on the organization’s mission and supported by an integrated performance-measurement system like the Balanced Scorecard can greatly support the management in routing their organization in right direction and facing the competitive challenges of contemporary period.