|
What is a Balanced Scorecard? |
|
|
Page 1 of 5 Since its introduction in 1992, the Balanced Scorecard approach to enterprise management has enjoyed a rapid rate of adoption in a variety of industries. More than just a grouping of financial measures, it is a strategic assessment tool that can accurately portray a business unit's strategic progress. The Balanced Scorecard asks managers to consider their business from four perspectives:
- The Customer
- Internal Business
- Innovation & Learning
- Financial
Note that only one perspective focuses on the financial metrics. The implication: Focusing only on financial assessments of performance is not enough to improve an organization. Foundation® includes many measurable and actionable variables — exactly the type of metrics used in the Balanced Scorecard.
Since its introduction in 1992, the Balanced Scorecard approach to enterprise management has enjoyed a rapid rate of adoption in a variety of industries. More than just a grouping of financial measures, it is a strategic assessment tool that can accurately portray a business unit's strategic progress. The Balanced Scorecard asks managers to consider their business from four perspectives:
- The Customer
- Internal Business
- Innovation & Learning
- Financial
Note that only one perspective focuses on the financial metrics. The implication: Focusing only on financial assessments of performance is not enough to improve an organization. Foundation® includes many measurable and actionable variables — exactly the type of metrics used in the Balanced Scorecard.
|
