Balance Score card

(Translate strategy into operational objectives, measures, targets and initiatives)

The inventors of BSC describe the innovation of the balanced scorecard as follows:

"The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation."


The balanced scorecard is a management system Read here for complete description on Balanced Scorecard