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					       Main Uses of the Balanced Scorecard Created by Doctor Robert Kaplan




 In this report, we are going to discuss the main uses of the balanced scorecard created by doctor
Robert Kaplan. essentially speaking, the balanced scorecard refers to a strategic management
and planning system used by non profit organization, government, industry and company to align
the activities of the organization to its tactic and vision.


This system is also used to improve external and internal communications and keep track of the
organizational performance against its strategic goals.


The system was created by Dr. Robert Kaplan who works at the Harvard organization School and
Mr. David Norton. It originated as a framework for performance evaluatement that aimed at adding
strategic non- monetary performance evaluates to the traditional economic and financial
frameworks previously sed.


Thus it offers executives and managers a more balanced view of the performance of their
organization.


The balanced scorecard has been evolved with time from its initial use as a simplified
measurement framework of performance to a full fledged management and strategic planning
system.


This scorecard is intended to transform a firm's strategic plan from a passive document into
marching orders that an organization can use in day to day activities. It provides frameworks that
function performance measurements while supporting planners identify the aspects that should be
determined and the things to be done. Thus it is helpful in enabling executives perform the
methods effectively.


Additionally, the balanced scorecard provides suggestions close to exterior outcomes and internal
enterprise processes to improve results and strategic performance. Thus planning is changed from
the academic angle to the very nerve of any offered enterprise.


perspectives of the Balanced Scorecard


To truly understand the main uses of the balanced scorecard created by physician Robert Kaplan,
one has to review the four standpoints that this scorecard suggests we view organisations from.
Data should also be collected and examined relative to these viewpoints:


- The understanding and Growth standpoint
This viewpoint of the balanced scorecard includes the training of employees and the cultural
attitudes that are related to corporate and person self- improvement. The modern workplace
requires staff to constantly be in the finding out mode especially when you take into account the
rapid adjustments in technology.


- The organization Process perspective


This balanced scorecard perspective is associated to the internal processes within a company. It
includes metrics which let managers know the usefulness of the company and whether the
companies and products conform to the client requirements.


- The customer perspective


customer satisfaction and focus is very important to any enterprise organization. Thus buyers have
to be analyzed relying on the processes that a business is using to serve distinct purchaser
groups.


- The financial viewpoint


The other use of the balanced scorecard is seen in this point of view. monetary data is a priority
for any provided firm and managers should do everything in their energy to get accurate and
timely data.


The balanced scorecard is very important and has many uses to organisations. It is used to
evaluate real performance against the goals set within the strategic planning documents initially
drafted for the organisations.


Overall, all players within organisations should learn the main uses of the balanced scorecard
created by physician Robert Kaplan.


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posted:9/11/2012
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