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Page 1 of 5 Your instructor has the option of activating a Balanced Scorecard, which will, depending on the setting, give your team feedback on its performance. If it is active, the Scorecard will display from a link in the Reports section of the website. The scores are based upon criteria outlined in this section.
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. Your industry includes many measurable and actionable variables — exactly the type of metrics used in the Balanced Scorecard.
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Balanced Scorecard 