ARTICLE MANAGEMENT SYSTEM WHICH CONTENT SIMPLE PAST TENSE AND PRESENT PERFECT TENSE
USING THE BALANCED SCORECARD AS A STRATEGIC MANAGEMENT SYSTEM The balanced scorecard revolutionized conventional thinking about performance metrics. When Kaplan and Norton first introduced the concept, in 1992, companies were busy transforming themselves to compete in the world of information; their ability to exploit intangible assets was becoming more decisive than their ability to manage physical assets. The scorecard allowed companies to track financial results while monitoring progress in building the capabilities needed for growth. The tool was not intended to be a replacement for financial measures but rather a complement—and that’s just how most companies treated it. Some companies went a step further, however, and discovered the scorecard’s value as the cornerstone of a new strategic management system . In this article from 1996, the authors describe how the balanced scorecard can address a serious deficiency in traditional management systems: the ina...