Balanced Scorecards For Foundations

The Balanced Scorecard was developed by Drs.Robert Kaplan and David Norton in 1992 to address a simple need: a more complete and balanced view of organizational performance. The result of their research was a recommendation to shift focus from strictly backward-looking financial results to a more balanced system that monitors performance in the customer, internal process, and learning perspective as well. The ability to manage an oragnization's strategy by measuring performance against key strategic objectives and understand the cause and effect linkages among them has revolutionized the way organizations are managed.