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In a 2020 survey [1] 88% of respondents reported using the balanced scorecard for strategy implementation management, and 63% for operational management. Although less common, the balanced scorecard is also used by individuals to track personal performance; only 17% of respondents in the survey reported using balanced scorecards in this way.
On the Balanced Scorecard. Kaplan R S and Norton D P (1992) "The balanced scorecard: measures that drive performance", Harvard Business Review Jan – Feb, pp. 71–80. Kaplan R S and Norton D P (1993) "Putting the Balanced Scorecard to Work", Harvard Business Review Sep – Oct, pp. 2–16. Kaplan R S and Norton D P (1996) "Using the balanced ...
In management, a strategy map is a diagram that documents the strategic goals being pursued by an organization or management team.It is an element of the documentation associated with the Balanced Scorecard, and in particular is characteristic of the second generation of Balanced Scorecard designs that first appeared during the mid-1990s.
Generic Strategy Map illustrating four elements of a balanced scorecard Once the strategy is determined, various goals and measures may be established to chart a course for the organization, measure performance and control implementation of the strategy.
In business performance management, a third-generation balanced scorecard is a version of the traditional balanced scorecard, a structured report, supported by design methods and automated 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.
David P. Norton (1941–2023) was an American business theorist, business executive and management consultant, known as co-creator, together with Robert S. Kaplan, of the Balanced Scorecard. [1] [2] David P. Norton co-founded Palladium Group, Inc. (previously Balanced Scorecard Collaborative) and served as its chief executive officer. [3]
The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment. Harvard Business Press, 2000. Cooper, Robin, and Robert S. Kaplan. The design of cost management systems: text and cases. Prentice Hall, 1999. Kaplan, Robert S., and David P. Norton. The Balanced Scorecard: Translating Strategy into Action.
Business performance management (BPM) (also known as corporate performance management (CPM) [2] enterprise performance management (EPM), [3] [4] organizational performance management, or performance management) is a management approach which encompasses a set of processes and analytical tools to ensure that an organization's activities and output are aligned with its goals.