The Balanced scorecardsection of the Navigation pane provides functionality that can help a company to clearly identify its visions and strategies and then translate them into measurable objectives. The module provides tools that can be used to manage:

• Perspectives - Represent the strategic viewpoints from which you want to view, and target, your strategic results. The four traditional perspectives are Learning and growth, Finance, Customer, and Internal Business Processes.

• Scorecards - Provide the framework within which you assemble the components you want to use to implement your strategy and measure progress toward its realization.

• Objectives - Express the key tasks, goals, or achievements required in order to realize the strategy outlined in a scorecard. Think of objectives as ways to translate your high-level strategy into low-level, explicit, and measurable goals.

• Measurements - Define how progress is measured toward objectives in a scorecard. Measurements enable you to specify and monitor important strategic contributors.

• Elements - As a vital part of measurements, elements extract from the system the values that measurements contribute toward their related objective. Elements monitor and extract date from specific fields, and can be combined in a measurement formula to calculate the measurement's current value.