balanced scorecard

(redirected from Balance Score Card)
Also found in: Medical.

Balanced Scorecard

A type of internal audit. A balanced scorecard collects data and reports to management on four areas: learning and growth, business processes, customers, and finance. The balanced scorecard helps an organization monitor performance and, if necessary, make improvements.

balanced scorecard

a tool for setting and communicating corporate goals and for measuring corporate performance. The balanced scorecard incorporates four groups of goals and derived performance indicators: External Indicators (financial goals and measures); (customer goals and measures); Internal Indicators (internal business process goals and measures); (learning and growth goals and measures).

The balanced scorecard approach balances traditional financial measures such as net profit and return on capital with customer measures such as market share and customer satisfaction; business process measures such as productivity and stock turnover; and learning and growth goals such as employee turnover and training. Balanced scorecards provide a broader set of performance measures and related management systems for judging overall performance, than financial targets alone. See BUSINESS STRATEGY.

Mentioned in ?
References in periodicals archive ?
It provides seamless integration and tracking of enterprise Balance Score Card and operational strategy maps with role-based KPIs.
Along with Dr Robert Kaplan, Dr Norton created the Balance Score Card, which has been selected by the editors of Harvard Business Review as one of the most influential management ideas of the past 75 years.
Debre Tsion Gebremichael (PhD), Deputy Prime Minister and Minister of Information and Communication, said that France Telecom has achieved a score of 83 as per the balance score card.