Balanced Scorecard

Introduced by Kaplan and Norton, the Balanced Scorecard argues that financial results alone are a lagging and incomplete view of performance. It balances four perspectives: financial, customer, internal process, and learning and growth, each with its own objectives and measures.

The framework is widely used in government, healthcare, and regulated industries, often visualized as a strategy map that links objectives across the four perspectives into a single cause and effect story.