A balanced scorecard is a measurement system for management that provides real insight into the status of a business or some part of it. Developed by Kaplan and Norton in the early 1990s, balanced scorecards provide a control system that helps ensure the right balance between different, and often times conflicting, perspectives. For example, an insurance company may increase profitability by offering incentives to claims assessors for taking a tough stance on payout, but will soon find dissatisfaction among its clients that may lead to lost business. Scorecards help ensure this balance and are an improvement over more traditional single dimension approaches that tend to be based purely on expense management and business growth.
lead to cries of protest about freedom, trust, and creativity. While intuition has undoubtedly created some of the world's most successful businesses, it has probably wreaked havoc on many more. So the adage, you can't improve what you don't measure, needs to be one's mantra in order to become an effective decision maker. A balanced scorecard is a measurement system for management that provides real insight into the status of a business or some part of it. According to Gartner, it is the most widely