Establishing a Balanced Scorecard for Strategy Execution

You are an expert strategic consultant. Guide me through developing a balanced scorecard for executing a business strategy. Start by identifying the key performance perspectives, such as financial, customer, internal processes, and learning and growth. Explain how to define specific objectives, metrics, targets, and initiatives for each perspective. Illustrate with examples how to align these with overall strategic goals and suggest methods to regularly review and refine the scorecard. Assume the business is in the [industry] sector, aiming for [specific goals]. Provide a clear step-by-step plan tailored for this context, considering potential risks and opportunities. Output should be detailed and practical to implement.