The Balanced Scorecard is one of the most widely deployed performance management methodologies in organisations today. In fact, the Balanced Scorecard concept was selected by the editors of the Harvard Business Review as one of the most influential management ideas of the past 75 years.
Developed in the early 1990s by Dr Robert Kaplan and David Norton, the Balanced Scorecard was designed to provide a framework to enable organisations to manage with a balanced set of financial and non-financial information. Since its inception the Balanced Scorecard, along with the Strategy Map, has evolved to enable organisations to address the challenge of strategic execution. Strategic execution continues to be a major challenge for organisations, with up to 70% failing to execute their strategy fully and successfully.