Balanced scorecard: overview
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Balanced scorecard

Balanced Scorecard provides a common focus for everyone in the organisation

An introduction and overview

The Balanced Scorecard was developed in the early 1990s by Robert Kaplan and David Norton, to provide a new form of strategic management. The Balanced Scorecard consists of: All four legs of achievement of the strategy are inter-related - eg: learning and development objectives must be related to improvement of customer service.

By way of example, a small corner-shop selling groceries might produce a balanced scorecard based around a vision of providing a personalised service to local customers:

A balanced scorecard can then be produced (on a single sheet of paper) covering these four aspects. For example, the financial aspect might be covered by: There will be similar objectives and measures etc for each of the other areas (business processes, customers, learning/growth). An important facet of these is that they are all related (eg: the customer objectives must also contribute to profitability)

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