What Is a Balanced Scoreboard (BSC): Examples and Uses.
By Tarver, E.
Tarver, E. (2024, November 13). What Is a Balanced Scoreboard (BSC): Examples and Uses. Investopedia. https://www.investopedia.com/terms/b/balancedscorecard.asp
Tarver provides a foundational overview of the Balanced Scorecard (BSC), a strategic management performance tool originally developed by Dr. Robert Kaplan and Dr. David Norton. The article explains how the BSC helps organizations move beyond purely financial metrics by incorporating three additional perspectives: customer satisfaction, internal business processes, and learning and growth (human capital). Tarver describes how the scorecard translates an organization’s vision and strategy into a set of operational objectives and performance indicators. The text also discusses the benefits of the BSC, such as improved organizational alignment and clearer communication of strategic goals. By providing examples of how different departments might use the scorecard, Tarver demonstrates its versatility as a tool for driving continuous improvement and long-term value creation across various industry sectors.