The Balanced Scorecard

"The Balanced Scorecard emphasizes that financial and nonfinancial measures must be part of the information system for employees at all levels of the organization."

"Intense global competition requires that companies continually improve their capabilities for delivering value to customers and shareholders."

"For most organizations, the financial themes of increasing revenues, improving cost and productivity, enhancing asset utilization, and reducing risk can provide the necessary linkages across all four scorecard perspectives."

"Identifying the value propositions that will be delivered to targeted segments becomes the key to developing objectives and measures for the customer perspective."

"Managers identify the processes that are most critical for achieving customer and shareholder objectives."

"The Balanced Scorecard stresses the importance of investing for the future, and not just in traditional areas for investment."

"Three principles that enable an organization's Balanced Scorecard to be linked to its strategy."

"The multiple measures on the Balanced Scorecard are linked together in a cause-and-effect network that describes the business unit's strategy."

"The scorecard enables company managers to bridge a major gap that formerly existed in their organizations: a fundamental disconnect between the development and formulation of strategy and its implementation."

"By communicating the strategy and by linking it to personal goals, the scorecard creates a shared understanding and commitment among all organizational participants."

"We have found that four steps are needed to use the scorecard in an integrated long-range strategic planning and operational budgeting process"

"Organizations need the capacity for double-loop learning, the learning that occurs when managers question their assumptions and reflect on the theory under which they were operating."

"Three critical roles must be played in building and embedding the Balanced Scorecard."

"The Balanced Scorecard can be the cornerstone of an organization's management system since it aligns and supports key processes."