The concept of balanced scorecard (BSC) was developed and popularized by management experts Drs Robert Kaplan and David Norton of Harvard University in the 1990s. Firmly founded on the principle that "what cannot be measured cannot be managed,” BSC is now used globally to measure the performance of business organizations against targets. Using four perspectives — the customer, finances, internal processes and learning and growth — a strategy map is drawn up to show their interdependence to facilitate their successful execution.
The BSC process is also applicable to other types of organizations, including NGOs (nongovernmental organizations). Viewed as an organization, the......