03 May DESCRIBE WHAT IS MEANT BY THE TERM BALANCED SCORECARD.
Before starting this discussion, complete your unit readings on balanced scorecards, as introduced in 1992 by Kaplan and Norton, and updated with lessons learned found in Nortons article. Then, in your initial post to this discussion, comment on the following:
Describe the initial framework for balanced scorecards as introduced by Kaplan and Nortons 1992 work, “The Balanced Scorecard: Measures that Drive Performance.” You may wish to describe the overall purpose for using a scorecard, discuss the Kaplan and Norton (1996) figure that includes four key elements, how they relate to one another, and so forth.
Describe what is meant by the term balanced scorecard. Please provide paraphrasing or a quote accompanied by an APA-formatted reference from peer-reviewed literature.
After reading the articles in this unit, and reviewing Nortons article, “Strategy Execution Needs a System,” what is one new insight that you have gleaned about balanced scorecards? Possible areas of insight may include: how balanced scorecards are used, their limitations, their positive potential for an organization, and so forth.
Please respond in an outline format and include at least one APA-formatted reference to an outside peer-reviewed reference to support your insights portion of the response. Your initial post must be a minimum of 150 words.
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