Balanced Scorecard

The Balanced Scorecard (BSC) is a strategy performance management tool - a semi-standard structured report, supported by proven design methods and automation tools, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions. It is perhaps the best known of several such frameworks (it is the most widely adopted performance management framework reported in the annual survey of management tools undertaken by Bain & Company, and has been widely adopted in English-speaking western countries and Scandinavia in the early 1990s). Since 2000, use of the Balanced Scorecard, its derivatives (e.g., Performance Prism), and other similar tools (e.g., Results Based Management) has also become common in the Middle East, Asia and Spanish-speaking countries.

Read more about Balanced ScorecardCharacteristics, History, Design, Criticism, The Four Perspectives, Measures, Software Tools

Other articles related to "balanced scorecard, balanced scorecards":

Balanced Scorecard - Software Tools
... It is important to recognize that the Balanced Scorecard by definition is not a complex thing - typically no more than about 20 measures spread across a mix of financial and non-financial ... The processes of collecting, reporting, and distributing Balanced Scorecard information can be labor intensive and prone to procedural problems (for example ... simplest mechanism to use is to delegate these activities to an individual, and many Balanced Scorecards are reported via ad-hoc methods based around email, phone calls and office ...
Third-generation Balanced Scorecard
... In business performance management, a third-generation balanced scorecard is a version of the traditional balanced scorecard, a structured report, supported by ... by the components making up the balanced scorecard and the design process used to develop these components ...
Strategy Map - Perspectives
... Early Balanced Scorecard articles by Kaplan Norton proposed a simple design method for choosing the content of the Balanced Scorecard based on answers to four generic questions about the strategy to be pursued ... Design of a Balanced Scorecard became a process of selecting a small number of objectives in each perspective, and then choosing measures and targets to inform on progress against this objective ...

Famous quotes containing the word balanced:

    [T]hat moment of evening when the light and the darkness are so evenly balanced that the constraint of day and the suspense of night neutralize each other, leaving absolute mental liberty. It is then that the plight of being alive becomes attenuated to its least possible dimensions.
    Thomas Hardy (1840–1928)