What Is The Balanced Scorecard?
Accepting Applications
09–14 JUL 2023
In-Person Learning takes place on the HBS campus or a designated location.
HBS Campus
Accepting Applications
09–14 JUL 2023
In-Person Learning takes place on the HBS campus or a designated location.
HBS Campus
HBS professor Robert S. Kaplan, along with his colleague Dr. David Norton, created the balanced scorecard to help executives translate their corporate mission and strategy into tangible objectives and performance measures. The balanced scorecard integrates four key perspectives—financial, customer, process, and organizational learning—into a single performance measurement and management report. Organizations use the balanced scorecard to communicate strategy to all employees, provide guidance for their local decision-making and problem-solving, and give feedback on performance that keeps companies looking forward and moving ahead. "Its true power," notes Professor Kaplan, "is to help employees align their day-to-day activities to their organization's strategic objectives, and to adapt and change in the face of uncertain, volatile external conditions."
Translating strategy and vision into action, the balanced scorecard approach enables organizations to set priorities for cross-functional and cross-business unit strategic initiatives and customer-supplier partnerships that drive transformational performance breakthroughs.
Kaplan and Norton, based on implementation experiences with thousands of companies, nonprofits and public sector entities around the globe, created a strategy execution system with the balanced scorecard at its core.
The innovative balanced scorecard approach, and its proven use as an effective strategy execution tool, is the hallmark of the Driving Corporate Performance: Aligning Scorecards and Structure for Strategy Execution program, which Kaplan cochairs.
Accepting Applications
09–14 JUL 2023
In-Person Learning takes place on the HBS campus or a designated location.
HBS Campus
Accepting Applications
09–14 JUL 2023
In-Person Learning takes place on the HBS campus or a designated location.
HBS Campus