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