Balanced Scorecard is a strategic planning and management system that can be utilized in for-profit and not-for-profit entities for business activities alignment to the organizational mission, communication improvement as well as monitoring performance against strategic goals. Balanced Scorecard is considered a ‘value-added’ performance measurement framework — through strategic non-financial performance measures — that supplies expanded organizational performance visualization. Methodologically, Balanced Scorecard builds on a few previously established management concepts including customer-defined quality, continuous improvement, employee empowerment, and ‘measurement-based’ management as well as feedback.
Balanced scorecard deployment integrates feedback from internal business process outputs while obtaining feedback from business strategy outcomes. Consequently, this creates a “double-loop feedback” system within the balanced scorecard implementation. The standardized Balanced Scorecard perspectives are: Learning and Growth, Business Process, Customer, and Financial. This general balanced scorecard theory can transmute to measure information security objectives achievement utilizing Business Contribution, Future Orientation, Operational Excellence, and Customer Orientation categories for continuously improving strategic performance and results.
“View Part I of the Synchronizing Balanced Scorecards series here“