Balanced Scorecard

In response to a concern that many senior executives were focusing exclusively on financial measurements such as return on investment and earnings per share to run their businesses, Robert Kaplan and David Norton introduced the concept of the Balanced Scorecard (BSC) in 1992. While these metrics are undeniably important, it would be detrimental to the long-term success of a company to rely exclusively on these short-term metrics. Utilization of a BSC allows management to shift their …

…amp;gt;Harvard Business Review., September-October pp. 134-142 1993 Leauby, Bruce A. & Wentzel, Kristin., Know the Score: The Balanced Scorecard <Tab/>Approach to Strategically Assist Clients., Pennsylvania CPA Journal <Tab/>Spring 2002 Youngblood, Alisha D. & Collins, Terry R., Addressing Balanced Scorecard Trade- <Tab/>Off Issues Between Performance Metrics Using Multi-Attribute Utility Theory., <Tab/>Engineering Management Journal., March 2003