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Kaplan and Norton Score Card

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1 - Analyze the Kaplan and Norton score card.
2- Discuss another strategic management system and how it helps corporations.

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Solution Summary

The solution analyzes the Kaplan and Norton score card. It also discusses a strategic management system and how it helps corporations.

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The balanced scorecard is a strategic planning and management system that is used by organizations to align business activities with vision and strategy of the organization, improve internal and external communications, and monitor organization's performance against strategic objectives. It was developed by Robert Kaplan and David Norton as a performance measurement framework that added non-financial measures to traditional financial metrics to provide better visibility to managers and provide a more balanced view (Balanced..., n.d). Apart from measuring the financial performance, the balanced scorecard gives executives a more "balanced" view of the organization. The scorecard retains the traditional financial measures but these measures are not enough for guiding and evaluating the overall performance. The balanced scorecard enables the organization to view the organization from four perspectives-
1. Financial
2. Customer
3. Internal Business Processes
4. Learning and growth
By using balanced scorecard an ...

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