Introduction to the Need for a Balanced Scorecard

What you’ll learn to do: explain the need for a balanced scorecard

Just as humans have different systems that interact to make up a person’s overall health, organizations have many different components that contribute to organizational health. Though we tend to focus on symptoms to know whether we’re healthy or not, it’s a good idea to have regular physical exams to make sure we’re not missing any health red flags. In the case of an organization, this is where a balanced scorecard comes in. A balanced scorecard is the health checklist, monitoring and measuring the health of the company.