Planning with balanced scorecard

This document discusses the limitations of traditional budget-based planning for organizations and proposes using a balanced scorecard approach instead. It notes that intangible assets like customer relationships, brands, and human capital are now more important to success but are not adequately addressed in financial planning tools. The balanced scorecard provides an integrated framework for planning and measuring performance across financial, customer, internal process, and learning & growth perspectives aligned with an organization's strategic goals. Objectives and metrics are defined across perspectives to facilitate strategic execution and tracking. Adopting a balanced scorecard allows organizations to plan for and manage key intangible strategic factors not addressed by traditional budgeting alone.