Written by

Bernard Marr

Bernard Marr is a world-renowned futurist, influencer and thought leader in the fields of business and technology, with a passion for using technology for the good of humanity. He is a best-selling author of 20 books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations. He has over 2 million social media followers, 1 million newsletter subscribers and was ranked by LinkedIn as one of the top 5 business influencers in the world and the No 1 influencer in the UK.

Bernard’s latest book is ‘Business Trends in Practice: The 25+ Trends That Are Redefining Organisations’

View Latest Book

Follow Me

Bernard Marr ist ein weltbekannter Futurist, Influencer und Vordenker in den Bereichen Wirtschaft und Technologie mit einer Leidenschaft für den Einsatz von Technologie zum Wohle der Menschheit. Er ist Bestsellerautor von 20 Büchern, schreibt eine regelmäßige Kolumne für Forbes und berät und coacht viele der weltweit bekanntesten Organisationen. Er hat über 2 Millionen Social-Media-Follower, 1 Million Newsletter-Abonnenten und wurde von LinkedIn als einer der Top-5-Business-Influencer der Welt und von Xing als Top Mind 2021 ausgezeichnet.

Bernards neueste Bücher sind ‘Künstliche Intelligenz im Unternehmen: Innovative Anwendungen in 50 Erfolgreichen Unternehmen’

View Latest Book

Follow Me

Balanced Scorecard: An Introduction

2 July 2021

Over recent years the Balanced Scorecard (BSC) has evolved into one of the most popular strategic management tools. The BSC was developed by Robert Kaplan and David Norton in the early 1990s and initially positioned as a strategic performance measurement innovation to counteract the prevalent financial bias in existing performance measurement systems.

The initial idea of the Balanced Scorecard

The initial idea of the Balanced Scorecard was that financial measures are lag indicators, which when used in isolation, could lead to short-term thinking. To promote the long-term value creation it was suggested that the financial perspective of performance should be complemented with measures in three supplementary perspectives, namely customer perspective, internal business perspective, and innovation and learning perspective.

Repositioning the Balanced Scorecard

In 1996, the Balanced Scorecard was repositioned as a strategic management system and it was suggested that firms move away from presenting Balanced Scorecards in a four-box model. Instead it was suggested that firms create a strategy map as the visual representation of a company’s critical objectives and the cause-and-effect relationships among them.

Balanced Scorecard Today

Today, strategy maps are seen as vital components of a Balanced Scorecard as they allow firms to understand how their intangibles are converted into tangible outcomes.


Business Trends In Practice | Bernard Marr
Business Trends In Practice | Bernard Marr

Related Articles

Why Every Brand Must Create Immersive Experiences For Their Customers

Are we becoming less material? It certainly seems that way. Research shows that today’s consumers increasingly prioritize experiences over material goods[...]

C2C

Why Every Business Must Consider The Platform (or C2C) Trend

It’s where customers connect with other customers to communicate or trade goods/services, usually via an intermediary platform like Facebook, Uber or Etsy.[...]

How Will Manufacturing Companies Use The Metaverse?

Manufacturers are already using metaverse technology to speed up product design, train employees, and streamline processes. What is the future of manufacturing in the metaverse?[...]

Why Every Business Must Embrace Personalization And Micro-Moments

The successful brands of the future will be those that can identify customers’ needs in the moment, and respond to those needs with thoughtful, personalized solutions.[...]

Future Proof Your Business With AI In Products And Services

There’s really no escaping artificial intelligence (AI) and the Internet of Things (IoT). It seems pretty much anything can be made smart these days – and that goes for services as well as products.[...]

The 4 Biggest Future Trends In The Financial Sector

And our relationship with money – how we use it, who we trust to look after it, and how we as financial customers expect to be treated[...]

Stay up-to-date

  • Get updates straight to your inbox
  • Join my 1 million newsletter subscribers
  • Never miss any new content

Social Media

0
Followers
0
Followers
0
Followers
0
Subscribers
0
Followers
0
Subscribers
0
Yearly Views
0
Readers

Podcasts

View Podcasts