Kaplan-Norton framework
The Kaplan-Norton framework, also known as the Balanced Scorecard, is a strategic planning tool that helps organizations translate their goals into actions. It uses four perspectives: Financial (how to succeed financially), Customer (how to meet customer needs), Internal Processes (what processes to improve), and Learning & Growth (how to foster innovation and learning). By balancing these areas, organizations can better align their activities with their vision and strategy, ensuring sustainable performance and improved decision-making. Essentially, it enables organizations to track progress and communicate objectives effectively.
Additional Insights
-
The Kaplan-Norton Framework, also known as the Balanced Scorecard, is a strategic planning tool used by organizations to translate their vision and strategy into action. It balances four perspectives: Financial (how we view success), Customer (how customers see us), Internal Processes (what we need to excel at), and Learning & Growth (how we can improve and innovate). By monitoring these areas, organizations can ensure they’re not only focusing on financial outcomes but also on the broader goals that drive long-term success and sustainability. This holistic approach helps align activities with the overall strategy.