• The Balanced Scorecard is a performance metric used to define, improve, and monitor various business functions and results.

  • The BSC concept was first introduced in 1992 by David Norton and Robert Kaplan, who took previous performance measures and adapted them to include non-financial information.
  • BSCs were originally developed for commercial companies, but were later adapted for use by non-profit organizations and government agencies.
  • A balanced scorecard includes the measurement of four main aspects of a business: learning and growth, business processes, customers and finance.
  • BSCs allow companies to consolidate information into a single report, provide service and quality information in addition to financial performance, and help improve efficiency.