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Introducing the Balanced Scorecard: Creating Metrics to Measure Performance

Andra Gumbus

Sacred Heart University

This experiential exercise presents the concept of the Balanced Scorecard (BSC) and applies it in a university setting. The Balanced Scorecard was developed 12 years ago and has grown in popularity and is used by more than 50% of the Fortune 500 companies as a performance measurement and strategic management tool. The BSC expands the traditional financial measures into three other dimensions to capture a balanced approach to measure performance in an organization. These additional dimensions are as follows: Customer Focus, Competence/Employee Learning and Growth, and Operational Efficiency. The exercise uses an analogy of a race car driver who relies on one aspect of measurement to gauge the race versus relying on multiple dimensions of performance.

Key Words: balanced scorecard • organizational measurement • organizational metrics

Journal of Management Education, Vol. 29, No. 4, 617-630 (2005)
DOI: 10.1177/1052562905276278
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