Balanced Scorecard

Balanced Scorecard

The balanced scorecard (BSC) is used to translate strategy into operations via reporting systems that in addition to financial information also provide non-financial, yet numerical, information. Its purpose has developed over time, but generally it is concerned with translating wordy strategy statements into numerical reports so that strategies can be executed well. The BSC translates vision and strategy into four perspectives: the learning and growth perspective, the internal business process perspective, the customer perspective, and the financial perspective (Kaplan, 2006).

The process of building a balanced scorecard and strategy map brings together an organization's health care professionals from diverse ...