Modern Strategic Planning Approach: Aligning Goals with Balanced Performance Indicators

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Modern Strategic Planning Approach: Aligning Goals with Balanced Performance Indicators

Journal Title: Scientific Research - Year 2025, Vol 5, Issue 4

Abstract

In the face of increasing global competition during the 1980 s. strategic management emerged as a critical tool for organizations to define long-term goals and align their operations accordingly. This approach integrates four essential elements-vision, mission, strategy and action-to guide decision-making and ensure organizational alignment. A major challenge in traditional strategic planning has been translating broad mission statements into concrete, actionable goals and projects. To address this, the Balanced Performance Management approach, also known as the Balanced Scorecard, offers a comprehensive framework for setting and monitoring strategic objectives. It corporates four interrelated dimensions: financial performance, customer satisfaction, internal processes, and learning and growth. This model enables organizations to balance short-term outcomes with long-term development by linking cause-and-effect relationships across performance areas. By integrating forward-looking indicators and aligning strategic goals with performance metrics, the Balanced Scorecard enhances both the effectiveness and accountability of strategic planning. This study emphasizes the importance of incorporating balanced performance dimensions into strategic planning to support informed decision-making and promote sustainable organizational success.

Authors and Affiliations

Kəmalə Əsgərova

Keywords

EP ID EP766571
DOI 10.36719/2789-6919/44/157-160
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