What is a balanced scorecard (BSC)?

BSCs allow companies to pool information in a single report, to provide information into service and quality in addition to financial performance, and to help improve efficiencies. Accounting academic Dr. Robert Kaplan and business executive and theorist Dr. David Norton first introduced the balanced scorecard.

How do I create a BSc?

Include your email address to get a message when this question is answered. You can use spreadsheet programs, such as Excel or Google Sheets, to create your BSC. Your financial reporting software might also have a BSC template. Your 4 perspectives might vary depending on the orientation and structure of your business or organization.

What is a BSc & why is it important?

These four areas, also called legs, involve: The BSC is used to gather important information, such as objectives, measurements, initiatives, and goals, that result from these four primary functions of a business. Companies can easily identify factors that hinder business performance and outline strategic changes tracked by future scorecards.