What Is Balanced Scorecard Employee Performance Management?
What is Balanced Scorecard?
Balanced Scorecard is an approach to strategic planning and performance measurement that balances planning across four key areas of business:
- Internal Process
- Learning & Growth
Kaplan and Norton, the inventors of Balanced Scorecard, describe it as “a set of measures that gives top managers a fast but comprehensive view of the business”. It was designed to “remedy the inadequacies of current performance measurement systems” where there was too much focus given to financial measures. The full Harvard Buiness Review article is well worth the read.