Download free Balanced Scorecard Framework

The Balanced Scorecard (BSC), developed in 1992 by Drs. David Norton and Robert Kaplan, has gained global acceptance as a powerful framework to help leaders define and rapidly implement strategy. This is accomplished by translating the vision and strategy into a set of operational objectives that drive behavior and performance. The BSC concept is built upon the premise that measurement motivates and that measurement must start with a clearly described strategy. The four perspectives of the BSC framework (financial, customer, internal and people and knowledge) are used to describe the strategy.

A balanced set of performance measures across these four perspectives provides the essential feedback required to assess performance and adjust and refine the organization's strategy over time. The roles of board directors and the CEO are strengthened through a three-part BSC based system, i.e., the Board Balanced Scorecard, Corporate Balanced Scorecard and Executive Balanced Scorecard.