From the course: Excel: Implementing Balanced Scorecards with KPIs
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The balanced scorecard methodology
From the course: Excel: Implementing Balanced Scorecards with KPIs
The balanced scorecard methodology
- [Instructor] Balanced scorecards. You might not have heard of them before, but they are a very popular methodology for transforming strategy into action. Specifically, a balanced scorecard is a framework for a strategic measurement and management that incorporates intangible assets. Rather than focusing on the tangible products of a company, and those could be physical products or they could be financial outcomes, you also look at intangible assets that include intellectual property and research. The balanced scorecard first came into national prominence in a 1992 Harvard Business Review article. Then the authors, Robert S. Kapland and David P. Norton, developed the ideas more in a 1996 book called "The Balanced Scorecard". As I mentioned earlier, a balanced scorecard looks beyond financials and includes things such as innovation efforts and also embraces stakeholders. In business there is a huge debate between a…
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