The benefits of using a Balanced Scorecard in strategic planning include frequent review and reporting, satisfaction with the design, and usefulness. The Balanced Scorecard allows organizations to review their performance on a quarterly basis, which is a significant increase from previous years. The 3rd Generation Balanced Scorecard design is popular and highly valued, with 89% of organizations expressing extreme satisfaction. Additionally, the usefulness of the Balanced Scorecard has increased, with 88% of respondents in 2019 finding it extremely or very useful, compared to 75% in 2018.
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Strategic planning is a crucial aspect of a business’ success. That is why Apple, Volkswagen, UPS, Citibank and many other Fortune 500 companies, and...
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There was a significant move towards quarterly reporting in 2019 – up to an average of 56% of organizations, compared to 38% in the previous year. This may be linked to a fall in six-monthly reports. The reporting frequency changes were mirrored in the data on how often Balanced Scorecards are reviewed: with a similarly significant increase to 58%, compared to 40% in 2018. 3rd Generation Balanced Scorecard designs continued to be the most popular design format. They were also the design giving the highest scores for value – 89% of organizations that used them were "Extremely Satisfied" with their Balanced Scorecard. Almost two-thirds of the organizations in the survey reported having multiple Balanced Scorecards, which marked a big increase over 2018 (64% vs. 48%). The number of respondents who said that their Balanced Scorecard was extremely or very useful increased by 88% in 2019, compared to 75% in 2018.
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