Definition Of Balanced Scorecard Pdf

Balanced scorecard is a management system that enables organizations to translate the vision and strategy into action.

Definition of balanced scorecard pdf. This article also contains a downloadable and editable balanced scorecard template. 3 conceptual foundations of the balanced scorecard robert s. Definition the balanced scorecard is defined as a strategic management and measurement system that links strategic. 2 a practitioner s guide to the balanced scorecard kaplan and norton s balanced scorecard is a concept still widely used and respected in today s business environment.

The balanced scorecard is a managementthe balanced scorecard is a management tool that provides stakeholders with a comprehensive measure of how theof how the organization is progressing towards the achievement of its strategic goals. Kaplan david norton and i introduced the balanced scorecard in a 1992 harvard business review article 1 the article was based on a 1990 nolan norton multi company research project that studied performance measurement in companies whose intangible. What is a balanced scorecard. The balanced scorecard has become an increasingly popular performance management and measurement framework and regularly comes in the top ten in bain and company s most used annual management tools surveys.

A balanced scorecard is a performance metric used to identify improve and control a business s various functions and resulting outcomes. This system provides feedback on internal business processes and external outco mes to continually improve organizational perfor mance and results. Balanced scorecard topic gateway series 3. The bsc framework is based on the balance between leading and lagging indicators which can respectively be thought of as the drivers and outcomes of your company goals.

This article explains the balanced scorecard developed by robert kaplan and david norton in a practical way after reading you will understand the basics of this powerful strategy and performance management tool. The balanced scorecard what is it. Robert kaplan and david nor ton created the balanced scorecard approach in the. It was first introduced in 1992 by david norton and.