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.[1]
The term 'balanced scorecard' primarily refers to a performance management report used by a management team, and typically focused on managing the implementation of a strategy or operational activities. In a 2020 survey[1] 88% of respondents reported using the balanced scorecard for strategy implementation management, and 63% for operational management. Although less common, the balanced scorecard is also used by individuals to track personal performance; only 17% of respondents in the survey reported using balanced scorecards in this way. However it is clear from the same survey that a larger proportion (about 30%) use corporate balanced scorecard elements to inform personal goal setting and incentive calculations.
The critical characteristics that define a balanced scorecard are:[2]
its focus on the strategic agenda of the organization/coalition concerned;
a focused set of measurements to monitor performance against objectives;
a mix of financial and non-financial data items (originally divided into four "perspectives" - Financial, Customer, Internal Process, and Learning & Growth); and,
a portfolio of initiatives designed to impact performance of the measures/objectives.[3]
^ ab"2GC Balanced Scorecard Usage 2020 Survey". 2GC Active Management. 21 May 2021. Archived from the original on 2021-05-24.
^FAQ Answer: What is the Balanced Scorecard?(PDF), 2GC Active Management, archived from the original on 20 June 2014, retrieved 11 July 2017
^Kaplan, Robert S.; Norton, David P. (1992-01-01). "The Balanced Scorecard—Measures that Drive Performance". Harvard Business Review. No. January–February 1992. ISSN 0017-8012. Retrieved 2020-01-15.
and 25 Related for: Balanced scorecard information
A balancedscorecard is a strategy performance management tool – a well-structured report used to keep track of the execution of activities by staff and...
Look up scorecard in Wiktionary, the free dictionary. A scorecard may refer to: Balancedscorecard, a tool used by managers to measure employee performance...
measures for that application. The most common such frameworks include: Balancedscorecard—used by organisations to manage the implementation of corporate strategies...
documentation associated with the BalancedScorecard, and in particular is characteristic of the second generation of BalancedScorecard designs that first appeared...
BSC SWOT, or the BalancedScorecard SWOT analysis, was introduced in 2001, by Lennart Norberg and Terry Brown. BSC SWOT is a simple concept that combines...
using both financial and non-financial yardsticks (for example, a balancedscorecard approach); a purely financial view is not sufficient. Finally, assets...
A legislative scorecard, in North American parlance, refers to any ranked balancedscorecard used by advocacy groups to rank sitting legislators or candidates...
towards the strategic objectives and measures established, such as a balancedscorecard or strategy map. Organizations may also plan their financial statements...
key performance indicator within business and is often part of a BalancedScorecard. In a competitive marketplace where businesses compete for customers...
S., et al. BalancedScorecard Report Volume 5, Number 4. Harvard Business Review, July 2003. Kaplan, Robert S., et al. BalancedScorecard Report Volume...
Norton, D. P., "Putting the BalancedScorecard to Work," in Focusing Your Organization on Strategy—with the BalancedScorecard, [Harvard Business Review...
way to choose KPIs is to apply a management framework such as the balancedscorecard. The importance of such performance indicators is evident in the typical...
supply-chain operations reference (SCOR). The basic model of the balancedscorecard (BSC) was introduced by Kaplan and Norton in 1992. The BSC aims to...
(Oracle Business Intelligence Applications) Oracle Scorecard: an implementation of balancedscorecard reporting. 2000: nQuire formed: Larry Barbetta, President...
sustainability balancedscorecard model. Using the popular balancedscorecard framework as its basis, the sustainability balancedscorecard model requires...
Examples include intellectual capital and a firm's business model. The balancedscorecard methodology is one of the most popular methods for measuring and managing...
performance and control implementation of the strategy. Tools such as the balancedscorecard and strategy maps help crystallize the strategy, by relating key measures...
that has been used to associate strategy implementation with the BalancedScorecard approach to strategic performance management. Most authors propose...