If companies want to survive in the turbulent business environment and global competition of today's markets, they need the best possible business processes. However, it is just as important for them to be able to react to new developments in the business environment, quickly and in line with the strategic business objectives. This requires efficient management processes that enable consistent implementation of corporate strategies and achievement of strategic objectives in day-to-day business by means of operational initiatives.

Many traditional management approaches do not establish the connection between the formulation of corporate strategies and their implementation based on strategy-oriented initiatives, or consistent control of the achievement of strategic objectives.

In addition, many companies are still run purely on the basis of financial KPIs which are of limited use since they relate mainly to past performance and thus cannot provide much information relevant to future management. Only by looking at the reasons for financial success (customers, processes, innovation, etc.) it will be possible, at an early stage, to identify factors that might prevent the achievement of strategic objectives.

The Balanced Scorecard approach offers a methodology with a structure that is easy to understand and implement, and that helps to avoid weak points.