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The balanced scorecard was initially proposed as a general purpose performance management system. [4] Subsequently, it was promoted specifically as an approach to strategic performance management. [5] The balanced scorecard has more recently become a key component of structured approaches to corporate strategic management. [6]
Business performance management (BPM) (also known as corporate performance management (CPM) [2] enterprise performance management (EPM), [3] [4] organizational performance management, or performance management) is a management approach which encompasses a set of processes and analytical tools to ensure that an organization's activities and output are aligned with its goals.
On the Balanced Scorecard. Kaplan R S and Norton D P (1992) "The balanced scorecard: measures that drive performance", Harvard Business Review Jan – Feb, pp. 71–80. Kaplan R S and Norton D P (1993) "Putting the Balanced Scorecard to Work", Harvard Business Review Sep – Oct, pp. 2–16. Kaplan R S and Norton D P (1996) "Using the balanced ...
The Balanced Scorecard is a framework that is used to help in the design and implementation of strategic performance management tools within organizations. One of the big challenges faced in the design of Balanced Scorecard-based performance management systems is deciding what activities and outcomes to monitor. By providing a simple visual ...
David P. Norton (1941–2023) was an American business theorist, business executive and management consultant, known as co-creator, together with Robert S. Kaplan, of the Balanced Scorecard. [1] [2] David P. Norton co-founded Palladium Group, Inc. (previously Balanced Scorecard Collaborative) and served as its chief executive officer. [3]
They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or the restructuring of an organization. An internally-focused business plan is often developed in conjunction with a balanced scorecard or OGSM or a list of critical success factors. This allows the success ...
The organization may use a variety of methods of measuring and monitoring progress towards the strategic objectives and measures established, such as a balanced scorecard or strategy map. Organizations may also plan their financial statements (i.e., balance sheets, income statements, and cash flows) for several years when developing their ...
The business model canvas is a strategic management template that is used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.