Fundamentals of application of a balanced system of indicators in the formation and implementation of an organization strategy in the economy of knowledge

UDC 330.1

Authors

Talatin E. A.
postgraduate student, master of economic sciences, Russian Economic University named after G.V. Plekhanov, Moscow, Russia

Abstract

The Balanced Scorecard provides a number of benefits for com-panies that use this method to implement their strategy. This method helps to formalize the strategy and communicate it to each employee, define key indica-tors for operational management, link goals to the budget, provide bottom-up feedback, plan by goals and align the goals of the organization with the goals of the departments.

Keywords

knowledge economy, company strategy, budget, planning.