Kaplan and Norton (Balanced Scorecard)

The Kaplan and Norton Balanced Scorecard is a strategic management tool that helps organizations measure and track their performance from multiple perspectives. Instead of focusing only on financial results, it considers four areas: financial health, customer satisfaction, internal business processes, and learning and growth (such as employee skills). By balancing these perspectives, organizations can get a well-rounded view of their progress toward long-term goals, making it easier to make informed decisions, improve performance, and ensure sustainable success. It aligns daily activities with strategic objectives for better overall management.