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A balanced scorecard of strategic performance measures is then derived directly by selecting one or two measures for each strategic objective. [7] This type of approach provides greater contextual justification for the measures chosen, and is generally easier for managers to work through.
The Performance Prism is a performance measurement framework that improves on traditional models like the balanced scorecard by offering a broader view of stakeholders. It focuses on five key areas: Stakeholder Satisfaction, Strategies, Processes, Capabilities, and Stakeholder Contributions.
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 ...
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]
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 ...
In business performance management, a third-generation balanced scorecard is a version of the traditional balanced scorecard, a structured report, supported by design methods and automated tools, that can be used by managers to keep track of the execution of activities by the staff within their control, and to monitor the consequences arising from these actions.
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.
During the design of an RBM system all people and organizations (actors) who contribute directly or indirectly to the result, map out their business processes, products and services, showing how they contribute to the outcomes being pursued, and this information is used to identify appropriate measures of progress.