The Balanced Scorecard - A Leading Approach to Strategic Management
The Balanced Scorecard approach to strategic management was derived in the early
1990's by Dr. Robert Kaplan and Dr. David Norton in response to the needs of
company management to better understand and guide their companies. The approach
was first published in "The Balanced Scorecard - Translating Strategy into
Action" by Norton and Kaplan in 1996. Norton and Kaplan have since founded the
Balanced Scorecard Collaborative
(www.bscol.com)
as an organization dedicated to helping companies implement
the Balanced Scorecard approach.
- Get an excellent general
overview of the Balanced Scorecard approach, prepared by the Balanced
Scorecard Institute
- The Balanced Scorecard has now become one of the more
highly regarded approaches for helping companies to strategically manage their
businesses. The basic premise is for companies to measure and quantify a host
of attributes from their business instead of focusing strictly on financial
indicators, as was done for much of the 20th century. Measuring and using these
attributes in a quantifiable form has helped many companies achieve success in
their strategic management goals.
- The Balanced Scorecard approach has worked well for
many different varieties of companies. However, one issue brought against it
involves companies and/or government groups that are nonprofit - and therefore
needed a different definition of "success," and some of its measurable attributes,
than the other for-profit companies that the approach was originally designed
for. Because of this issue, an organization called the Balanced Scorecard
Institute
(www.balancedscorecard.org) was formed to help those groups modify the
approach for their needs.
Other Business Management links
-
BetterManagement.com is the authoritative Internet portal for information on
cost management, business intelligence, planning and budgeting, scorecarding, and
value chain collaboration.
- Harvard Business School
HBS Working
Knowledge; a collection of cutting edge management information that keeps you
at the forefront of today's fast-changing business environment.
- CIO.com;
The leading Resource for Information Executives
