A management tool used by organisations to monitor and manage performance against defined objectives. It began as a concept for measuring whether the smaller-scale operational activities of a company were aligned with its larger-scale objectives in terms of vision and strategy. Now used to focus not only on financial outcomes but also on the operational, marketing and developmental inputs to these it helps provide a more comprehensive view of a business, which in turn helps organisations act in their best long-term interests.

See also:
Business Plan
Business Strategy
Balanced Scorecard
Boston Matrix
Corporate Stratgey
Corporate governance
Cost-benefit analysis
Critical success factors
Decision making unit (DMU)
Drivers
Organic growth/development
SMART objectives
Tactical planning
Vision