Balanced Scorecard

By: A Staff Writer

Updated on: Jul 19, 2024

What: Tracks key performance indicators (KPIs) across four areas: Financial, Customer, Internal Business Processes, and Learning & Growth.

Who: Robert Kaplan and David Norton.

Why: Forces entrepreneurs to look beyond profit, measuring what impacts long-term success.

When: Great for goal setting, monitoring progress, and making strategic adjustments.

How:

1. 1. Select KPIs that matter to YOUR specific business.
   2. Create a dashboard to track them regularly.
   3. If you’re off-target, analyze which area needs improvement.