Summary: The Balanced Scorecard: Robert S. Kaplan is the Baker Foundation Professor at Harvard Business School and co-creator, together with David P. Norton, of the balanced scorecard, a means of linking a company's current actions to its long-term goals. Kaplan and Norton introduced the balanced scorecard method in their 1992 Harvard Business Review article, The Balanced Scorecard: Measures That Drive Performance. The BSC methodology has been endorsed by companies such as Mobil and Sears. The balanced scorecard envisages executives as pilots with a range of controls and indicators in front of them, based upon which they make decisions and develop strategies. More specifically, the BSC translates a company's vision and strategy into a coherent set of performance measures. The four perspectives of the scorecard--financial measures, customer knowledge, internal business processes, and learning and growth--offer a balance between short-term and long-term objectives, between outcomes desired and performance drivers of those outcomes, and between hard objective measures and softer, more subjective measures. ADDITIONAL INFORMATION: A pdf transcript of this episode is available (or will be made available shortly) for download at robertgbarnwell.com. In addition, listeners are invited to explore the many executive briefings, whitepapers, case studies and other information and tools available (no registration required) at robertgbarnwell.com. CONSULTING SERVICES: On a limited basis and subject to availability, professor Barnwell is pleased to work with the senior leadership of companies undergoing significant strategic or enterprise-wide change. Clients are typically multi-national corporations or the large subsidiaries of such companies with revenues in excess of $250.0 million. If you would like to learn more about Professor Barnwell and his services, please visit robertgbarnwell.com or email Robert directly at Robert@robertgbarnwell.com.
