Assignment:
There is a huge gap between the vision and the strategy developed at the top and the things people down in the organization, at the front line do. The balanced scorecard (BSC) links vision and strategy to employees every day actions by translating the abstract strategy into clear strategic priorities and initiatives and relating these to clear tangible strategic outcomes the organization and its employees have to strive for: satisfied shareholders, delighted customers, efficient and effective processes and a motivated workforce. In this way, the BSC makes strategy everyone's job.
Required:
Critically discuss in depth the importance of the balanced scorecard in bridging the gap between strategy formulation and strategy implementation.