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Scorecard

The balanced scorecard is a strategic management tool used to evaluate company operations and impacts. It was developed by Norton and Kaplan based on a study of top companies. BSCs measure intellectual capital like training and knowledge to help companies make better decisions.

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Geli Ace
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13 views

Scorecard

The balanced scorecard is a strategic management tool used to evaluate company operations and impacts. It was developed by Norton and Kaplan based on a study of top companies. BSCs measure intellectual capital like training and knowledge to help companies make better decisions.

Uploaded by

Geli Ace
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Balance Scorecard

Various internal company operations and the impacts they have on the outside world are
identified and improved using the balanced scorecard (BSC), a strategic management
performance indicator. In the United States, the United Kingdom, Japan, and Europe, balanced
scorecards are a common tool for evaluating and offering feedback to enterprises. Managers
and executives must collect and analyze data, therefore data collection is crucial to producing
quantifiable results. Employees of businesses can use this information to assist them make
better decisions for the future of their companies.

The balanced scorecard was initially developed by business leader and theorist Dr. David
Norton and accounting professor Dr. Robert Kaplan. Both Kaplan and Norton embarked on a
year-long investigation involving 12 top-performing organizations that resulted in the 1992 article
"The Balanced Scorecard—Measures That Drive Performance," which was first published in the
Harvard Business Review. Their study modified earlier performance indicators to incorporate
nonfinancial data.

BSCs are used to measure a company's intellectual capital, such as training, skills, knowledge,
and any other proprietary information that gives it a competitive advantage in the market. They
were initially designed for for-profit businesses but were later adapted for nonprofit
organizations and government agencies.

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