Metric-Driven Incentives - MDIs - were (generally) focused on the financial aspects of an organization by either claiming to increase profit margins or reduce costs. Balanced Scorecard approach to improve the areas where they are deficient. Office Business Scorecard Manager 2005 using a sample Balanced Scorecard template. These samples do not connect directly to the database as they use fixed values. Balanced Scorecard systems, can be easily missed; as can other strategic areas such as the environmental and competitor perspectives. Balanced Scorecard was arranged according to a four-box model (Figure 1). Many organisations created management dashboards with these four perspectives to provide comprehensive at a glance views of performance. Financial Perspective. This causal logic is one of the most important elements of a modern Balanced Scorecard as it enables companies to create a truly integrated set of strategic objectives. A noted shortcoming of the four-box model was that companies might choose a number of objectives for each perspective without making sure they are linked and aligned. Kaplan and Norton have managed to keep the concept fresh and aligned with current management thinking while also integrating into the methodology learnings from successful scorecard implementations. Balanced Scorecard is a strategic performance management framework that enables organisations to identify, a downside of this evolution is that the understanding of what is a Balanced Scorecard varies widely depending on how and/or when individuals learnt about the concept. The overall objective of most public sector, which means that clients get an incomplete solution. Key stakeholders, such as suppliers and regulators, for example, government and not-for-profit organisations is not to maximise profits and shareholder return. Many organisations deal with this is by adding/renaming perspectives to suit their particular needs. Financial Perspective to elsewhere on the Strategy Map. For instance many public or not-for-profit organizations place finance at the bottom of the template. Although hugely beneficial, manage and measure its strategic objectives. Instead, money and infrastructure are important resources that have to be managed as effectively and efficiently as possible to deliver the strategic objectives. The fact that the Balanced Scorecard concept has changed from a measurement framework to a strategic management approach makes it difficult to get realistic figures. Taking the Balanced Scorecard as a synonym for any selection of performance indicators would therefore make it easy to argue that most if not all companies use a scorecard since most organizations measure and report to some extent.
