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Introducing The Balanced Scorecard: Creating Metrics To Measure Performance, Andra Gumbus
Introducing The Balanced Scorecard: Creating Metrics To Measure Performance, Andra Gumbus
WCBT Faculty Publications
This experiential exercise presents the concept of the Balanced Scorecard (BSC) and applies it in a university setting. The Balanced Scorecard was developed 12 years ago and has grown in popularity and is used by more than 50% of the Fortune 500 companies as a performance measurement and strategic management tool. The BSC expands the traditional financial measures into three other dimensions to capture a balanced approach to measure performance in an organization. These additional dimensions are as follows: Customer Focus, Competence/Employee Learning and Growth, and Operational Efficiency. The exercise uses an analogy of a race car driver who relies …