|
AUTHOR(S): Venelin Terziev, Marin Georgiev
|
TITLE Strategic Alignment Through the Balanced Scorecard: Integrating Planning, Execution, and Control |
 PDF |
ABSTRACT Balanced Scorecard (BSC) is a management and control method that connects short-term operational control with long-term strategy through selected key performance indicators. It helps organizations focus their efforts on strategic goals by integrating both financial and non-financial measures. A crucial aspect of the BSC is the linkage between strategic planning and operational budgeting, ensuring the strategy is effectively implemented in daily activities. For successful strategy execution, five principles are recommended: commitment from top management, translating strategy into specific goals and initiatives, applying the BSC at all organizational levels, aligning individual and corporate goals, and maintaining strategy as a continuous improvement process. |
KEYWORDS Balanced Scorecard, Strategic Management, Performance Indicators, Operational Control, Financial Measures, Non-Financial Measures, Strategy Implementation |
|
Cite this paper Venelin Terziev, Marin Georgiev. (2025) Strategic Alignment Through the Balanced Scorecard: Integrating Planning, Execution, and Control. International Journal of Economics and Management Systems, 10, 266-269 |
|
