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 Part 1: A Brief History

2 July 2021

A short look at the development of the balanced scorecard – “one of the most significant management ideas of the past 75 years”

The balanced scorecard is a concept that has become deeply embedded in organisations of all kinds around the world – and yet, remarkably, it has only existed for fifteen years.

By 2003, the editors of the Harvard Business Review were naming the balanced scorecard as one of the most significant management ideas of the past 75 years, and a survey has found that around half the Fortune 1000 companies in the USA and 40 percent of those in Europe use balanced scorecards. Yet the concept was only developed in the early 1990s.

The balanced scorecards of the 1990s 

The concept of the balanced scorecard was first touted in the Harvard Business Review in 1992 in a paper written by Robert S Kaplan and David P Norton. The paper introduced the idea of focusing on human issues as well as financial ones, and measuring performance across a much wider spectrum than businesses had done before.

By the mid-1990s other organisational theorists had taken up Kaplan and Norton’s work and modified the design method of balanced scorecards, ironing out early flaws. Kaplan and Norton published their ideas in full in The Balanced Scorecard: Translating Strategy into Action in 1996 and it became a business bestseller.

Balanced scorecards in a new millennium

The idea of balanced scorecards spawned variations like the “performance prism”, “results-based management” and the “third-generation balanced scorecard”.

The idea of three generations of balanced scorecards was built on in Cobbold and Lawrie’s work of 2002, which described how the balanced scorecard – or BSC, as it is often referred to – can support three distinct management activities and has evolved into the use of strategy maps as a strategic management tool.

The future of the balanced scorecard

Balanced scorecards, and management tools and strategies based on them, are used by some of the world’s most successful companies – and by companies of all sizes.

Specialist software tools have been developed to help companies benefit from the theories of balanced scorecards. An increasingly diverse range of organisations, including charities, government agencies and sports teams as well as businesses, are finding them profitable.

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

Related Articles

The 7 Biggest Business Challenges Every Company Is Facing In 2023

In this article, we look at the seven biggest challenges businesses will be facing in 2023.[...]

Is This The Downfall Of Meta And Social Media As We Know It?

Meta Platforms – the company formerly known as Facebook – is cutting its workforce by 13% – equating to a loss of 11,000 jobs.[...]

The Top 5 Technology Challenges In 2023

When it comes to technology, rapidly changing conditions pose unprecedented challenges that must not be ignored.[...]

How To Build A Positive Hybrid And Remote Working Culture In 2023

In 2023, building a culture that allows a business and its employees to thrive while working remotely is about more than surviving in the “new normal” or post-pandemic society.[...]

12 Practical Steps To Handle Change At Work

Whether it's driven by new technology, shifts in the market, expansion, or cutbacks, work is constantly changing.[...]

The Top 11 Virtual Networking Tips To Boost Your Career

But in a post-pandemic world where nearly all of our networking is done online, what are the best ways to “meet” new people and build those connections?[...]

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