Analysis of Generic Models of Balanced Scorecard in Strategic Management Process

The Balanced Scorecard is a modern management method used within the strategy implementation and control phases of the strategy management process. The objectives and measures of the scorecard are derived from organization's vision and strategy concerning four perspectives: financial, customer, internal business process, and learning and growth. The Balanced Scorecard is more than a new measurement system. It is a strategic management system linking strategy and its performance in practice. This paper is focused on the analysis of architecture of the generic models used in the building of the strategy map from particular perspective standpoint. The complete strategy map describes the process for transforming intangible assets into tangible, customer and financial outcomes. It provides executives with a framework for describing and managing business strategy. In general, the Balanced Scorecard becomes the foundation for managing information age organizations.