Using the Balanced Scorecard as a Strategic Management …

A R T I C L E Using the Balanced Scorecard as a Strategic Management System by Robert S. Kaplan and David P. Norton Included with this full-text Harvard Business Review article:The Idea in Brief the core ideaThe Idea in Practice putting the idea to work 1 Article Summary 2 Using the Balanced Scorecard as a Strategic Management SystemA list of related materials, with annotations to guide furtherexploration of the article s ideas and applications 13 Further Reading Product 4126 Using the Balanced Scorecard as a Strategic Management System page 1 The Idea in BriefThe Idea in Practice COPYRIGHT 2000 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED. Why do budgets often bear little direct rela-tion to a company s long-term Strategic ob-jectives? Because they don t take enough into consideration. A Balanced Scorecard augments traditional financial measures with benchmarks for performance in three key nonfinancial areas: a company s relationship with its cus-tomers its key internal processes its learning and growth.

authors of “The Balanced Scorecard— Measures That Drive Performance” (HBR January–February 1992) and “Putting the Balanced Scorecard to Work” (HBR September–October 1993). Kaplan and Norton have also written a book on the balanced score-card to be published in September 1996 by the Harvard Business School Press.

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