Since the 1990s, the Balanced Scorecard system has cut a path in business as a more rigorous way to measure performance by quantifying what had been considered intangible assets, such as human capital, information, and culture. The system draws strength from four perspectives: 1) financial measures; 2) customers; 3) internal processes; and 4) learning and growth. Developed by HBS professor Robert S. Kaplan, chairman of the Balanced Scorecard Collaborative, and David P. Norton, co-founder with Kaplan
Words: 1142 - Pages: 5
Conceptual Foundations of the Balanced Scorecard The Balanced Scorecard was established by David Norton and Robert Kaplan. They believed that if organizations want to improve intangible assets’ management, they must integrate them into their management systems. The Balanced Scorecard was structured by Balanced Scorecard for performance measurement, strategic objectives and strategy maps, the strategy management system, and future opportunities. The roots of the Balanced Scorecard are profitability, market
Words: 1135 - Pages: 5
Improving Government Performance Using the Balanced Scorecard to Plan and Manage Strategically Howard Rohm President and CEO, the Balanced Scorecard Institute Are programs, services, and staff aligned around a shared vision of the future? Do government leaders have a clear strategy for delivering cost-effective services for citizens and other stakeholders, and is that strategy communicated with clarity, both internally and externally? Do you have a disciplined way of choosing priorities among
Words: 1782 - Pages: 8
Balance Score Card (BSC) An active and engaged board is an essential part of shaping and executing a successful strategy. Followings are the primary responsibilities of corporate board of directors: 1. Approve and monitor the enterprise’s strategy, created and formulated by CEO and Executive Leadership Team 2. Approve major financial decisions 3. Select the chief executive officer, evaluate the CEO and senior executive team, ensure executive succession plans 4. Provide counsel and support
Words: 1298 - Pages: 6
Bringing the Balanced Scorecard to Life: The Microsoft Balanced Scorecard Framework White Paper By: Charles Bloomfield Insightformation, Inc. Published: May 2002 For the latest information, please see http://www.microsoft.com/business/bi/ Abstract 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
Words: 7549 - Pages: 31
business strategies and to have tools and models, which provide useful information to support strategic decision-making, planning and control. In response to these needs, there have been many important developments, in both management accounting research and practice that focus on the use of accounting data and related information regarding strategy and operations for these purposes. One of the most important developments in strategic planning and control have been: the balanced scorecard, a comprehensive
Words: 961 - Pages: 4
Balanced scorecard From Wikipedia, the free encyclopedia Jump to: navigation, search The balanced scorecard (BSC) is a strategy performance management tool - a semi-standard structured report, supported by 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.[1] It is perhaps the best known of several such frameworks (it was the most widely adopted
Words: 3559 - Pages: 15
Bringing the Balanced Scorecard to Life: The Microsoft Balanced Scorecard Framework White Paper By: Charles Bloomfield Insightformation, Inc. Published: May 2002 For the latest information, please see http://www.microsoft.com/business/bi/ Abstract 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
Words: 7549 - Pages: 31
January 2005 Re-examining the cause-and-effect principle of the Balanced Scorecard* Per Nikolaj Bukh, pnb@pnbukh.com, Aarhus School of Business Teemu Malmi, teemu.malmi@uts.edu.au, University of Technology, Sydney & Helsinki School of Economics Abstract There seems to be a wide variety of methods in how organizations apply the Balanced Scorecard (BSC) concept in practice and how it is interpreted in the literature. Consequently, it is not quite clear what the core features of BSC, or its variants
Words: 12575 - Pages: 51
Transforming the balanced scorecard Kaplan. and D. P. Norton. 2001. Kaplan and Norton introduced the Balanced Scorecard to have a comprehensive outlook for business. they believed that financial indicators alone were insufficient to measure performance. Managers that rely exclusively on financial measurements are encouraged to sacrifice long-term improvement for short-term performance. The Balanced Scorecard approach supplements financial measurements with non-financial measures that indicate
Words: 708 - Pages: 3
