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Brief Note on Balanced Scorecard Concept
“Balanced Scorecard” is a powerful tool for effectively “Balancing Your Strategy”, systematic implementation through “Strategic Initiatives”, deploying it across all business functions and departments. It is essential to align your processes and people and performance management system, PMS, in achieving your mission and vision.
We would like to mention here that the “Balanced Scorecard” is a powerful tool for translating your strategy into operational & measurement language and monitor organization performance. This concept was first published by Dr. Kaplan and David Norton during 1991-92 in Harvard Business Review as measurement tool, but it became very popular tool for Strategy Deployment and Performance Management.
“The Balanced Score Card is one of the most important management practices of the past 75 years”
Harvard Business Review