Balanced Scorecard for Performance MeasurementThe Balanced Scorecard is a strategic planning and management system that is used...to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals (Balanced Scorecard Institute, n.d.).

Imagine that an organization you are familiar with has been thinking about implementing the Balanced Scorecard as one of the performance measures as described in Kaplan and Norton (2007) in this weeks Learning Resources. Consider this tool, its implementation, and its effectiveness relative to your professional experience.

Your evaluation should address the following:

• Identify and explain the key areas of the Balanced Scorecard that inform financial decision making.
• What are some of the benefits and costs of a Balanced Scorecard for performance measurement?
• Based on your evaluation of the benefits and costs of the Balanced Scorecard, determine whether you would recommend that the organization you work for (or one you have worked for in the past) implement a Balanced Scorecard as a performance measurement tool. Provide a rationale to justify your recommendation.