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In two of my previous blog posts I addressed the link between biodiversity, sustainability and performance, raising questions around the role each organization has in addressing these issues.
The history of the Balanced Scorecard in its popular form draws back at the beginning of 1992 when it was for the first time unveiled to the larger public by its authors Dr. Robert Kaplan and Dr. David Norton in an article published in the Harvard Business Review journal.
However, few are those who know which are the details of the Balanced Scorecard development and its origins. The Balanced Scorecard took shape as a result of a project involving 12 U.S. top companies. The project was run by Nolan Norton Institute in cooperation with Dr. Robert Kaplan during 1990-1991 and had as the main purpose to research and test best practice performance measurement solutions used at that point in practice in United States.
Ever wondered how a master’s thesis having the Balanced Scorecard as subject looks like?
The Balanced Scorecard emerged in the early 1990s as a new management concept and was immediately embraced by both academics and corporate world (Denton 2005, de Wall 2003, and Bourne 2008). Since then, the potential of this new concept was recognized in various forms, receiving distinctions as the best theoretical framework in 1997 from the American Accounting Association (Norreklit, 2003), while the Harvard Business Review considered that the Balanced Scorecard was one of the most influential ideas of the twentieth century.
Performance management systems (PMS) represent information-based routines and procedures formally expressed that managers use to maintain or alter patterns in organizational activities (Simons, 2000). More and more organizations are implementing new and alternative performance management systems in order to obtain better results. These systems focus on reproducing financial and non-financial information that is relevant for decision making and managerial action. Some of the better known performance management systems are the Balanced Scorecard and the Performance Prism.
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