A Proposed Framework for Integrating The Balanced Scorecard into the Strategic management Process

Abstract The Balanced Scorecard (BSC) proposed by The ambition of the present paper is to demonstrate a method that could easily connect directly the various performance measures (criteria) of a BSC with the stated goals and objectives of any firm. Specifically, it explains in great detail how the multicriteria method of Analytical Hierarchy Process (AHP) could practically facilitate this connection. It analyses how a firm could arrange the various performance criteria in such a way that could be capable of controlling its stated goals and objectives through the implementation of its strategy. This paper starts with a literature review concerning the two methods, BSC and AHP, and then proceeds to the formation of the proposed framework, which actually facilitates the formal and quantitative links between the firm's stated performance criteria and its overall strategic planning process: its mission, goals, objectives, and the specific strategy it follows for the attainment of these goals and objectives