Business Development Metrics

In terms of fast developing economics company’s ability to use its non-financial funds becomes very important. Strategy is gaining in importance as well. Traditional approach to the company management based on the “Mission’’ – “Objectives” – “Strategies” concept has some shortcomings, namely, the gap between the firm long-term vision and current activity of employees.

Balanced Scorecard (BSC) developed in 1990s helps to solve this “gap” problem. The system provides the basis that enables managers to simulate possible past and future events (using “if I were…”, “If it is …” models), make comparative analysis of real and target indexes with the help of various ratable characteristics. BSC brings mission and strategy into the system of targets, tasks and indexes measuring the degree of equality to these tasks.

Thus, Balanced Scorecard becomes one of the most effective tools to integrate strategic and functional levels of management.

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