Balanced Scorecard

Source: Wikipedia: Balanced Scorecard

The balanced scorecard (BSC) is a strategic performance management tool - a semi-standard structured report supported by proven design methods and automation tools can be used by managers to keep track of the execution of activities by staff within their control and monitor the consequences arising from these actions. It is perhaps the best known of several such frameworks, and was widely adopted in English speaking western countries and Scandinavia in the early 1990s. Since 2000, use of BSC, its derivatives (e.g. performance prism), and other similar tools (e.g. Results Based Management) have become common in the Middle East, Asia and Spanish-speaking countries also.

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