Components of A Third-generation Balanced Scorecard
A third-generation balanced scorecard has four main components:
- A destination statement. This is a one or two page description of the organisation at a defined point in the future, typically three to five years away, assuming the current strategy has been successfully implemented. The descriptions of the successful future are segmented into perspectives for example financial & stakeholder expectations, customer & external relationships, processes & activities, organisation & culture
- A strategic linkage model. This is a version of the traditional ‘’strategy map’’ that typically contains 12-24 strategic objectives segmented into two perspectives, activities and outcomes, analogous to the logical framework. Linkages indicate hypothesised causal relations between strategic objectives.
- A set of definitions for each of the strategic objectives.
- A set of definitions for each of the measures selected to monitor each of the strategic objectives, including targets.
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—Noam Chomsky (b. 1928)
“Hence, a generative grammar must be a system of rules that can iterate to generate an indefinitely large number of structures. This system of rules can be analyzed into the three major components of a generative grammar: the syntactic, phonological, and semantic components.”
—Noam Chomsky (b. 1928)
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