logo share us

Balanced Scorecard

   

Definition: a Balanced Scorecard is a strategic approach and performance management system by Kaplan and Norton ('92) which works with semi-standard structured reports, 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.
The BSC works from 4 perspectives:
- Financial perspective
- Customer perspective
- Business process perspective
- Learning and growth perspective
For each perspective, 4 things are monitored: objectives, measures, targets and initiatives.


   
   
💡

Learn more about Balanced Scorecards.



More on performance management: Benchmarking, Hawthorne Effect, Management by Objectives, Objectives and Key Results, Performance Management.

You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA.



MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration.

We like to keep things short, and provide links to learn more about your subject.


add us to your desktop

Add MBA Brief to your desktop / iPad

   

© 2024 MBA Brief - Last updated: 5-3-2024  -  Privacy   |   Terms