Document Type

Article

Publication Date

8-2005

Abstract

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 on one aspect of measurement to gauge the race versus relying on multiple dimensions of performance.

Comments

Published:

Gumbus, A. "Introducing the Balanced Scorecard: Creating Metrics to Measure Performance." Journal of Management Education 29.4 (2005): 617-630.

(Contributions to Practice)


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