balanced scorecard


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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.

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Implement Business Process Management and Balanced Scorecard to drive improvement to your organization.
Balanced Scorecard acts as performance management tools that monitor and measure the expected outcomes explicitly to measure eight (8) critical dimensions of Sarawak Civil Service (SCS) as stated in SCS 10-20 Action Plan.
The widespread adoption of the Balanced Scorecard is due in part to its flexibility.
In this period Balanced Scorecard has been developed to respond performance measurement methods which only concentrate on financial criteria, in addition it is performance of measurement methods which use non-financial criteria (Kaplan & Norton, 2008; Kaplan &Norton, 2001).
Created by Palladium Group co-founders Dr Robert S Kaplan and Dr David P Norton, the Balanced Scorecard links strategy to operations to drive business outcome.
Examples and success stories" presents case studies on commercial, nonprofit, and governmental organizations that have implemented the balanced scorecard method.
operational performance measures for balanced scorecard systems.
Rhodes first turned to the Balanced Scorecard in late 2005 as a way to communicate to trustees the tension between competing strategic goals and the trade-offs--in particular, the nonfinancial impacts--that exist when attempting to maximize the pursuit of any one goal.
Once you can do that, the whole approach to strategy execution is pretty similar to using the Balanced Scorecard in private sector companies.
The Balanced Scorecard concept was selected by the editors of the Harvard Business Review as one of the most influential management ideas of the past 75 years.
A generic balanced scorecard translates an organization's overall mission and strategy into specific, measurable operational and performance metrics across four perspectives: