The Balanced Scorecard: A Strategic Chart Of Accounts

The Balanced Scorecard is the "strategic chart of accounts" for organization that focus on strategy. It captures both the financial and the non-financial elements of an organization's strategy, and discusses the cause and effect relationship that drive business results. The Balanced Scorecard allows, for the first time, an organization to look ahead, using leading indicators, instead of only looking back using lagging indicators. The Balanced Scorecard puts strategy-the key driver of result today - at the center of the management process.