The Balanced Scorecard

The video tutorial explains the use of a performance management tool, focusing on the balanced scorecard. It highlights how this tool links a company's strategy, mission, and values with its goals and objectives. The balanced scorecard connects various business operations, such as customer relations, learning and growth, internal practices, and financial performance, to create a strategic map. This map helps identify objectives and tactics to achieve collective goals. The balanced scorecard also allows for quantifying performance metrics, enabling organizations to assess their progress towards goals by comparing actual performance with desired levels.

Explain how objectives and tactics are interlinked in a business scorecard.

In what ways can quantifiable scores be beneficial for an organization?