What is a Balanced Scorecard A short and simple A balanced scorecard looks at your organization from four different perspectives to measure its health Each of these perspectives focuses on a different side of your company, creating a balanced view of your organization. What is the Balanced Scorecard The balanced scorecard retains traditional financial measures But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long term capabilities and customer What Is the Balanced Scorecard dummies The Balanced Scorecard was developed in the early s by two guys at the Harvard Business School Robert Kaplan and David Norton The key problem that Kaplan and Norton identified in the business of the day was that many companies tended to manage their businesses based solely on financial measures. Balanced Scorecard Investopedia A balanced scorecard is a performance metric used in strategic management to identify and improve various internal functions of a business and their resulting external outcomes It is used to measure and provide feedback to organizations. What Is A Balanced Scorecard A Definition The Balanced Scorecard BSC is a business framework used for tracking and managing an organization s strategy The BSC framework is based on the balance between leading and lagging indicators , which can respectively be thought of as the drivers and outcomes of your company goals. How To Apply The Balanced Scorecard In HR Balanced Scorecards for human resources HR have a lot in common with enterprise level Balanced Scorecards, but they also have a lot of differences. The Balanced Scorecard Measures that Drive Performance The balanced scorecard requires specific measures of what customers get in terms of time, quality, performance and service, and cost Internal business perspective. Balanced scorecard Using the Balanced Scorecard as a Strategic The balanced scorecard provides a framework for managing the implementation of strategy while also allowing the strategy itself to evolve in response to changes in the company s competitive Free Balanced Scorecard Examples and Templates Balanced Scorecard is about strategy execution, so you will need to analyze your business challenges, come up with a good strategy, describe it on the strategy map, and add some tracking in the form of the metrics.