The "Balanced Scorecard" is a strategic management approach developed in the early 1990s by Dr Robert Kaplan of Harvard Business School, and Dr David Norton.
Drs Kaplan and Norton describe the approach - "The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation."
The balanced scorecard identifies four perspectives from which to view an organisation. These are:
* The Learning and Growth Perspective
* The Business Process Perspective
* The Customer Perspective
* The Financial Perspective
Enjoy!
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