Management Theories
Balanced Scorecard
Also Known As BSC
Citation Formats
General Reference
APA Style
BibTeX
The balanced scorecard is a strategy performance management tool, a well-structured report used to track the execution of activities by staff and to monitor the consequences of those actions. It was popularized by Robert S. Kaplan and David P. Norton, who published details of the design in a 1992 article, building on earlier work by Art Schneiderman at Analog Devices.
Facts
Core ClaimOrganizational performance should be measured and managed through a balanced set of indicators across multiple perspectives, not financial metrics alone, to keep strategy execution on track. 1 Origin Year1992 is when Kaplan and Norton's Harvard Business Review article popularized the design; an earlier precursor was built by Art Schneiderman at Analog Devices in 1987. Cross-Tradition Connections
Associated With
The balanced scorecard extends accounting's traditional financial measures with operational and strategic metrics, co-developed by accounting academic Robert S. Kaplan.
The balanced scorecard's own defining feature is presenting financial measures alongside non-financial ones in one report, extending rather than replacing the purely financial performance measures finance practice traditionally relied on.
Contains
Developed By
Co-developed with Robert S. Kaplan, first published in the Harvard Business Review in 1992.
Co-developed with David P. Norton, first published in the Harvard Business Review in 1992.
Sources
1. Wikipedia, Balanced Scorecard
WikipediaHistory sectionQuote, History section
Subsequently, Kaplan and David P. Norton included anonymous details of this balanced scorecard design in a 1992 article. Although Kaplan and Norton's article was not the only paper on the topic published in early 1992, it was a popular success, and was quickly followed by a second in 1993.
1. Wikipedia, Balanced Scorecard
WikipediaLead sectionQuote, Lead section
A balanced scorecard is a strategy performance management tool – a well-structured report used to keep track of the execution of activities by staff and to monitor the consequences arising from these actions.
1. Wikipedia, Balanced Scorecard
1. Wikipedia, Balanced Scorecard
WikipediaAssociated With: Finance, Characteristics sectionQuote, Associated With: Finance, Characteristics section
The characteristic feature of the balanced scorecard and its derivatives is the presentation of a mixture of financial and non-financial measures each compared to a 'target' value within a single concise report.
Reader Challenges (0 open reader challenges)
No disputes yet. Spotted an error or a better source? Open the first one.
Sign in to dispute this or suggest a correction.
View At A Past Year
The atlas records no dated fact of its own for this entry, so there is no other year to choose.