Towards a new management logic in organizations. The Balanced Scorecard
Keywords:
Balanced Scorecard, financial perspective, client perspective, learning-and-growing perspective, strategyAbstract
Since the end of World War II, enterprises left behind the so-called “quiet sailing” stage to enter into another of turmoil and uncertainty due to an ever increasing competition, the rapid expansion in the development of managerial techniques, and the emergence of strategical processes as a way to create and assault the future more than to keep a continuity from the past. The Balanced Scorecard, created by Robert S. Kaplan and David P. Norton, constitutes the development of strategical processes by seeking a number of complementing elements, with bases allowing the Balanced Scorecard to describe and control such strategies. The Balanced Scorecard comprises four perspectives: a financial perspective, a client perspective, an internal procedures perspective, and a learning-and-growing perspective. Inside their inner structure a cause-effect relation arises, endowing entrepreneurial management procedures with a new meaning and logic. The principal premise of this new logic, according to the Balanced Scorecard, is the proprietors’ need of higher incomes out of the financial capital invested; however, such an income increase depends on a value proposal to the clients. This proposal, in turn, will be attained if and only if enterprises’ internal procedures are improved by generally improving their staff and information systems
, , client perspective, internal procedures perspective, learning-and-growing perspective, strategy