My last post Is Balance Scorecard relevant today? received good response from practicing professionals in one voice they stated YES Balance Scorecard is and will always remain relevant.
Balance Scorecard is relevant but what we are out to balance that need to change according the competitive business , social and environment land scape.
We can not have ROI only mindset to align all other balancing factors serving that. ROI at what social, ethical, emotional & environmental cost? Present balance scorecard do not takes into account these factors.
After identifying all these stakeholders a balanced strategy to make all of them happy should be worked out. All of them deserves equal weightage. Thereafter further breaking down is to be done to achieve happiness of each of the constituents.
In achieving only ROI based balancing other aspects like governance, ethical and socially responsible behaviors can & shall not be ignored. All these must be incorporated in overall balance card.
