Balanced scorecard strategic perspectives mission vision strategy learning and growth customer financial internal business processes how do our customers see us. A balanced scorecard is a performance metric used in strategic management to identify and improve various internal functions of a. Although financial performance is not the main target of most governmental and non. The balanced scorecard is a set of performance targets and results relating to four dimensions of performancefinancial, customer, internal process and innovation. Theoretical perspectives and public management implications article pdf available in managerial auditing journal 166. Developed by robert kaplan and david norton, the balanced scorecard is an extremely influential management tool that remains enduringly popular with companies around the world. The balanced scorecard is a strategic planning and performance management framework that tracks financial and nonfinancial measures to determine an organizations effectiveness and when. It recognises that organisations are responsible to different stakeholder groups, such as employees, suppliers, customers, community and shareholders. In this study it is argued that positive agency theory is a relevant theoretical perspective in studies of the. Its updated for 2020, and tells you all the basics in plain english. Conceptual foundations of the balanced scorecard 3. But the trick is getting everyone in an organization to see and fully understand how these areas are. Each of those bullet points makes up one of the four balanced scorecard perspectives a term mentioned for the first time in robert s. Balanced scorecard bsc as information based strategic management tool is capable of removing the limitation associated with the.
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