a system that measures and manages an organization's progress toward strategic objectives. Introduced by Robert Kaplan and David Norton in 1992, the balanced scorecard incorporates not only financial indicators but also three other perspectives: customer, internal business, and learning/innovation. The scorecard shows how these measures are interlinked and affect each other, enabling an organization's past, present, and potential performance to be tracked and managed.
Introducing the Balanced Scorecard in the organization is a lot like a journey to an exciting new destination. Establishing a clear vision for the Balanced Scorecard in advance will help smooth the bumps in the road as everyone in the organization embarks on the trail to Balanced Scorecard and business...
This paper describes the Microsoft approach to developing and implementing a Balanced Scorecard for enterprise performance management. It presents basic information on the Balanced Scorecard performance management methodology, and identifies key business issues that must be addressed in developing and deploying a balanced scorecard. The paper then presents the Microsoft...
This paper proposes a three-part balanced scorecard-based system — the board-balanced scorecard, corporate balanced scorecard, and executive balanced scorecard integrated into a cohesive information technology foundation. The users of these scorecards are the board of directors, executive management, general managers, and executive staff, respectively. This three-part balanced scorecard system can...
The paper outlines that balanced scorecard is not a metrics project, a technology project, or a human resources program. More than anything else, the balanced scorecard represents a major change initiative and as such can fall prey to the issues. Key change agents are critical to the success of any...
The benefits of the Balanced Scorecard go far beyond having useful measures and information. The process of developing the corporate Balanced Scorecard and then cascading it through the organization can be tremendously valuable. If the process is done in such a way to encourage a focus on meeting the needs...
This paper discusses issues and strategies in implementing a Balanced Scorecard approach to facilitate strategic planning in a small private university library. Bond University has been using the Balanced Scorecard to measure and manage its performance. One of the challenges in implementing the Balanced Scorecard is selecting appropriate performance measures...
Balanced Scorecard is a well-known concept and it's easy to find helpful articles about what this concept is. Balanced Scorecard projections and perspectives are also talked about much. Business professionals lack essential information about real-life metrics and information on how to build actual scorecard, which supports weights and scores, which...
The biggest challenge with any balanced scorecard development is working out what is the most relevant information to include - particularly for balanced scorecards to be used for "strategic control" purposes. Drawing on 2GC's balanced scorecard development experience, this paper outlines six steps, the balanced scorecard implementation should include. Bear...
One of the most powerful, yet simple, performance measurement systems is the Balanced Scorecard. The Balanced Scorecard was developed to communicate the multiple, linked objectives that companies must achieve to compete on the basis of capabilities and innovation, not just tangible physical assets. The Balanced Scorecard translates mission and strategy...
Once Strategy Tree is created, one needs to get the Balanced Scorecard document. If some solutions are examined using Scorecard, a person needs to share the knowledge with others, one needs to have the Balanced Scorecard document. If a person needs to perform a further analysis then Excel report is...
The last decade the Balanced Scorecard has emerged as a magic tool that is supposed to solve all existing management problems so far. This paper analyses how the Balanced Scorecard BSC can be improved towards a Sustainability Balanced Scorecard SBSC and used to translate corporate sustainability strategies into action, and...
The balanced scorecard approach can be extended to the boardroom in three ways: the enterprise scorecard, which describes the strategy of the organization; the board balanced scorecard, which provides a roadmap to board strategies and responsibilities; and the executive scorecard, which aids in developing executive compensation. The program starts with...
Talk to any balanced scorecard consultant, and one finds that the most important step in creating a balanced scorecard is defining the strategy. While that sounds like an easy thing to do, it's surprising how many companies struggle to define their strategy clearly, embed it into their balanced scorecard performance...
To help transform itself into a technically advanced, nimble force able to respond rapidly and decisively across a full spectrum of operations, the Army researched the implementation of an organization-wide Balanced Scorecard BSC initiative. Balanced Scorecard Collaborative worked closely with the US Army to provide the technology and consulting support...
Empirical evidence that explores the performance impact of the balanced scorecard, however, is extremely rare and much that is available is anecdotal at best. This paper reports a study that set out to explore the performance impact of the balanced scorecard by employing a quasi-experimental design. Up to three years...
It is believed that that no combination of Balanced Scorecard-related methodologies, software, and textbooks can guarantee successful implementation of the improvement measurement mechanism. Beyond such tools, IT executives should have access to individuals experienced in successful Balanced Scorecard implementations, whether internal or outside consultants. Such individuals can be essential in...
The "Balanced Scorecard" in origin is a management strategy, developed by Drs. Robert Kaplan and David Norton in early 1990's. It was a new approach to strategic management, based on viewing the activity of any company from four perspectives; which you can see on the scheme below. A lot of...
Many companies that have never heard of the Balanced Scorecard may be surprised to learn that they have been applying some of the underlying concepts for years. For these companies, a formal Balanced Scorecard implementation is an exciting opportunity to reap greater benefits from a process that is already familiar.
The Balanced Scorecard is a business management concept. This concept allows transforming strategy into action. It's a not a set of rules or methods, it's a conception that allows to share the strategy and vision with others. With Balanced Scorecard one can describe companies' vision, mission and strategy. Basing Balanced...
The Balanced Scorecard is a comprehensive management system that focuses organizations' attention on a limited number of metrics which balance their short-term and long-term objectives. The paper, based on the findings from a survey, reveals that over the years, companies' use of this tool has strayed far from the original...
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