What is a balanced scorecard used for in BSG?

A balanced scorecard is a strategic management tool that helps organizations translate their overall strategic objectives into measurable outcomes. In the context of the Business Strategy Game (BSG), utilizing a balanced scorecard allows companies to align their day-to-day operations and activities with broader strategic goals, ensuring that they are tracking progress not just in financial terms, but also in areas such as customer satisfaction, internal business processes, and learning and growth.

This multi-dimensional approach provides a comprehensive view of organizational performance, helping teams to identify areas that need improvement and making it easier to ensure that all parts of the organization are working toward the same strategic objectives. By breaking down these objectives into specific, measurable outcomes, teams can monitor their progress and adjust their strategies as necessary, promoting a more unified and effective approach to achieving company goals.

In this context, while other choices may relate to different aspects of business performance—such as employee performance or competitor strategies—they do not encapsulate the primary function of the balanced scorecard as a tool for translating strategy into measurable results.