Can I Use the Balanced Scorecard with My Current Strategic Plan?
/Well … Yes, of course. In fact, that’s what the Balanced Scorecard (BSC) was really designed for. You do not have to start the BSC only when you are first developing your strategy.
While it is great to begin to use the BSC as part of the strategic planning process, it is never too late to use the BSC framework to help execute your organization’s strategic plan.
On the one hand, if you are using it from the get-go, the BSC will force you to not only develop strategic objectives for your organization, but also the measures that you will use to track your progress toward achieving those objectives. Another key aspect of the Balanced Scorecard is the use of initiatives, or strategic projects, to help close the performance gap between where your measures tell you your organization is now and where you want to be based on the targets you set.
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