A Brief History of the Balanced Scorecard: Tradition and Modernity

Carmen Mihaela Boteanu () and Petrescu Marius ()
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Carmen Mihaela Boteanu: Valahia University from Targoviºte, Doctoral school
Petrescu Marius: Valahia University from Targoviºte, Doctoral school

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 1, 412-416

Abstract: Strategic Planning is a continuous and systematic process where people make decisions about intended future outcomes, how outcomes are to be accomplished, and how success is measured and evaluated. The Balanced Scorecard represents a management and strategic planning system used on a large scale – in private companies, governmental institutions and NGOs – that aims to harmonise economic activities with the vision and strategy of the organisation, the improvement of internal and external communication and the monitoring of the performance of the organisation beyond its startegic objectives. A simple definition of the BSC involves three aspects: a communication tool, a measurement system and a strategic management system.

Keywords: strategic planning; the strategy focused organization; the Balanced Scorecard; measuring performance. (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:12:p:412-416

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