The Balanced Scorecard: Translating Strategy into Action by Robert S. KaplanThe Balanced Scorecard translates a companys vision and strategy into a coherent set of performance measures. The four perspectives of the scorecard--financial measures, customer knowledge, internal business processes, and learning and growth--offer a balance between short-term and long-term objectives, between outcomes desired and performance drivers of those outcomes, and between hard objective measures and softer, more subjective measures. In the first part, Kaplan and Norton provide the theoretical foundations for the Balanced Scorecard; in the second part, they describe the steps organizations must take to build their own Scorecards; and, finally, they discuss how the Balanced Scorecard can be used as a driver of change.
Balanced Scorecard: Is it still relevant?
It was created by Drs. Robert S. Kaplan and David P. Norton in This infographic below explains that the Balanced Scorecard is still useful today. Balanced Scorecard is a powerful reporting tool that measures the success of implementing good business ideas and the success and growth of established businesses.
I was right, but not at all for the reasons I was expecting. So this would prove interesting I thought. The articles are all available via the Emerald site. A special issue of this journal described as:. Kaplan, who co-created the Balanced Scorecard with David Norton in To celebrate this anniversary, we are offering free access to this special issue and to a selection of the ten most cited articles related to the Balanced Scorecard and published in Emerald journals. I am glad I did.
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It was created by Drs. Robert S.
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#2: It provides a framework to align everyone in the organization around a mission and vision.
This is our short and simple guide to the balanced scorecard. It's updated for , and tells you all the basics in plain English. The Balanced Scorecard is a management system. It also helps you choose the right things to measure so that you can reach those goals. Traditionally, companies have judged their health by how much money they make.