balanced scorecard

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balanced scorecard

A document that translates an organisation’s mission and strategy into a comprehensive set of performance measures which provide the framework for a strategic measurement and management system. The balanced scorecard retains an emphasis on achieving financial objectives, but also includes the performance drivers of those financial objectives. The scorecard measures organisational performance across four balanced perspectives:
(1) Financial (i.e. cost efficiency)
(2) Customers
(3) Internal business processes
(4) Learning and growth (i.e. making changes and sustaining improvements).
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References in periodicals archive ?
The Board reviewed the balanced scorecard for 2017 and approved the proposed balanced scorecards for 2018.
It may seems that the word "balanced" in this approach means creating an equipoise in measures that are relating to the 4 perspective of BSC, but indeed as Kaplan and Norton said the majority of Balanced scorecards measures in organizations relay on financial measures (35%) yet, so the word " balanced" here creates the equipoise between:
(2003) A Descriptive Analysis On The Implementation Of Balanced Scorecards in German-Speaking Countries, Management Accounting Research,No:14, p.
Manama, November 20 (BNA) --A workshop on the balanced scorecards is to conclude tomorrow Thursday, which was organised by Ministry of Finance along three days, where a number of the ministry's affiliates and other ministries and government's institutions participated in its works.
Account teams that settle for using only the metrics in traditional balanced scorecards fail to conduct thorough, customer-focused analysis that can result in improved customer engagement and greater positive impact on the customer's business.
The balanced scorecard used in this paper includes fewer measures than the balanced scorecards used in practice and prior academic research.
Applied Information Economics (AIE) has been researched as an alternative to Balanced Scorecards. In 2000, the Federal CIO Council commissioned a study 16 to compare the two methods by funding studies in side-by-side proj- ects in two different agencies.
The participants were given detailed information about strategic performance and balanced scorecards, including best practices and experiences for the development and implementation of these strategies and standards of performance, which prepares them for linking the strategies with the goals in their organisations effectively.
The BSC development team should now determine where within the hierarchy of balanced scorecards it should place the metrics used for Item 7.2.
We conclude that, on average, the balanced scorecards at the companies represented in this survey lack the necessary acceptance by those affected.
Based on our experience in developing Balanced Scorecards for higher education institutions, we offer the following advice to those looking to do the same at their own colleges or universities:

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