Transforming the Balanced Scorecard from Performance Measurement to Strategic Management: Part II

@article{Kaplan2001TransformingTB,
  title={Transforming the Balanced Scorecard from Performance Measurement to Strategic Management: Part II},
  author={R. Kaplan and David P. Norton},
  journal={Accounting Horizons},
  year={2001},
  volume={15},
  pages={147-160}
}
Several years ago we introduced the Balanced Scorecard (Kaplan and Norton 1992). We began with the premise that an exclusive reliance on financial measures in a management system is insufficient. Financial measures are lag indicators that report on the outcomes from past actions. Exclusive reliance on financial indicators could promote behavior that sacrifices long-term value creation for short-term performance (Porter 1992; AICPA 1994). The Balanced Scorecard approach retains measures of… 

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