What is a key goal of the Balanced Scorecard (BSC)?

The key goal of the Balanced Scorecard (BSC) is to ensure communication and alignment with strategic objectives. The BSC is a strategic planning and management framework that organizations use to translate their vision and strategy into operational objectives across four perspectives: financial, customer, internal business processes, and learning and growth. By doing so, it creates a comprehensive view of organizational performance beyond just financial outcomes.

This approach enables organizations to align their activities to the vision and strategy, improve internal and external communications, and monitor organizational performance against strategic goals. It facilitates a better understanding of how various functions and initiatives contribute to overall objectives, fostering an environment where all employees are aware of their role in supporting the company's strategy. This alignment is crucial for successful execution and achieving long-term objectives.