Balanced Scorecard

A strategic management framework developed by Robert Kaplan and David Norton that translates an organization's vision and strategy into a comprehensive set of performance measures. It provides a balanced view of organizational performance across four perspectives: financial, customer, internal processes, and learning and growth. The Balanced Scorecard enables organizations to track financial results while simultaneously monitoring progress in building capabilities and acquiring intangible assets needed for future growth. It serves as a foundation for the performance management aspects of RBPM.