The Balanced Scorecard, developed by Robert Kaplan and David Norton, is a proven tool that provides businesses with powerful insights into what’s most important to customers, how they need to deliver to attract and retain those customers, and how they need to grow and adapt to sustain themselves in evolving markets. It is a measurement tool that continually focuses organizations on the critical drivers of performance is not only a competitive advantage, but also the key to managing at the pace of accelerating change.
In this OrangePaper, you’ll learn about how the Balanced Scorecard’s strategic framework supports effective management by:
- Carefully selecting 12-20 metrics across four balanced perspectives: financial, customer, internal business processes, and learning & growth
- Presenting a clear framework for interpreting data
- Creating a “line of sight” between local activities and an organization’s core strategy
- Promoting shared understanding rather than control