Types of objectives for a Balanced Scorecard

Question

What Kinds of Objectives to set the requirement for a Balanced Scorecard?

Answer 1

1. Two very distinct kinds of performance yardsticks are required:
      I. Those associating to financial performance.
     II. Those associating to strategic performance.

2. Achieving satisfactory financial results is a must. Without financial strength and sufficient profitability, a company’s search of its strategic vision and also long-term health and ultimate endurance, is jeopardized.

3. Of equivalent or larger significance is a company’s strategic performance is outcomes that show whether a company’s competitiveness and market position are worsening, holding steady or improving.