The Balanced Scorecard is a simple business tool, designed to capture on one page various aspects of the organisation:
- business model,
- organisational development,
- financial return and social return
It sets out in each case where the organisation is now and where it wants to be soon (e.g. two years time) and later (e.g. five years time).
The Balanced Scorecard aims to predict a journey that the organisation is going on. Some of the markers in this journey are numeric (eg turnover increases from 50k to 75k to 100k).
Others are narrative (eg short lease is converted to long lease with aspiration for freehold transfer). Along the way, copies of the Balanced Scorecard can be permanently saved as snapshot reminders of plans and progress for the organisation.