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. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/
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. Classification
Topic (Functional Area) Connections
Addresses Topic
Associated With
The balanced scorecard extends accounting's traditional financial measures with operational and strategic metrics, co-developed by accounting academic Robert S. Kaplan.
Source Wikipedia, Balanced Scorecard
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.
Source Wikipedia, Balanced Scorecard
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
WikipediaLead 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.
See also section
BSC
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.
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