Balanced Scorecard Standards

There are lots of scorecards and dashboards out there. Norton and Kaplan did not trademark the term "Balanced Scorecard" like Stern Steward did for "Economic Value Added." As a result, many consultants and software companies claim to do "Balanced Scorecarding" and it can mean just about anything. There are lots of books on the topic that also take different approaches to measurement.

One of the reasons that the Norton Kaplan model has such a good reputation is that it is a good logical framework. First, organizations should start with objectives and link them together in cause and effect relationships. Thus you need to define the logic behind what drives the outcomes you are looking for. The other smart thing Norton and Kaplan have done is to document the results and keep the methodology evolving. So you can find many case studies, and if you read their writing, you will see how the concept has evolved from the early 90s to where it is today.

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