Review:
Balanced Scorecard By Robert S. Kaplan And David Norton
overall review score: 4.5
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score is between 0 and 5
The Balanced Scorecard is a strategic planning and management system that is widely used across organizations to align business activities to the vision and strategy of the company. The concept was developed by Robert S. Kaplan and David Norton in the early 1990s.
Key Features
- Four perspectives: financial, customer, internal business processes, learning and growth
- Strategic objectives and measures for each perspective
- Cause-and-effect relationships between measures
- Strategy maps to visually depict objectives and initiatives
Pros
- Helps organizations translate their strategy into action
- Provides a comprehensive view of performance across different perspectives
- Encourages communication and alignment within the organization
Cons
- Requires significant effort to implement and maintain
- May be challenging to measure some non-financial objectives