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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 over 20 books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations. He has a combined following of 4 million people across his social media channels and newsletters and was ranked by LinkedIn as one of the top 5 business influencers in the world.

Bernard’s latest books are ‘Future Skills’, ‘The Future Internet’, ‘Business Trends in Practice’ and ‘Generative AI in Practice’.

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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’

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Balanced Scorecard: The Evolution

2 July 2021

Since its inception in 1992 the Balanced Scorecard has changed and evolved. This is important as Robert Kaplan and David Norton have managed to keep the concept fresh and aligned with current management thinking. The downside of this is that the understanding of the Balanced Scorecard concept varies widely depending on when individuals learnt about the Balanced Scorecard.

The Changing Nature of the Balanced Scorecard

The Balanced Scorecard was first introduced as a performance measurement framework but was quickly positioned as a strategic performance management tool. The Balanced Scorecard concept is much more than a collection of performance indicators in four perspectives. Today, the Balanced Scorecard allows organisations to translate their strategy into a set of interrelated objectives and performance indicators. Most significantly the overall template has moved from a four box model to a Strategy Map view as an essential component of a Balanced Scorecard.

Perspectives of the Balanced Scorecard have changed

In addition, the names and content of the four Balanced Scorecard perspectives have changed over the years. Especially the Learning and Growth Perspective has been developed and refined. In the past companies have struggled with this perspective and have often renamed it into a Human Perspective to only focus on staff satisfaction, training and turnover or into an innovation perspective to focus on future developments. The danger is that companies miss out other important enablers of future performance. To address this problem, Kaplan and Norton have articulated what they consider to be the principal components of the Learning and Growth perspective, namely:

  • Balanced Scorecard Sub Section: Human Capital (Employees’ skills, talent, and knowledge)
  • Balanced Scorecard Sub Section: Information Capital (Databases, information systems, networks, and technology infrastructure)
  • Balanced Scorecard Sub Section: Organisation Capital (Culture, leadership, employee alignment, teamwork, and knowledge management)

While the four perspectives of the Balanced Scorecard are clearly broad ranging, critics of the balanced scorecard point out that they are not comprehensive. Key stakeholders, such as suppliers and regulators, for example, can be easily missed. As are other strategic areas such as the environmental and competitor perspectives. The way many organisations deal with this is to extend the framework and add/rename perspectives to suit their particular needs.

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

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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 over 20 books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations.

He has a combined following of 4 million people across his social media channels and newsletters and was ranked by LinkedIn as one of the top 5 business influencers in the world.

Bernard’s latest book is ‘Generative AI in Practice’.

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