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A Brief History of the Balanced Scorecard: Tradition and Modernity

Author

Listed:
  • Carmen Mihaela Boteanu

    () (Valahia University from Targoviºte, Doctoral school)

  • Petrescu Marius

    () (Valahia University from Targoviºte, Doctoral school)

Abstract

Strategic Planning is a continuous and systematic process where people make decisions about intended future outcomes, how outcomes are to be accomplished, and how success is measured and evaluated. The Balanced Scorecard represents a management and strategic planning system used on a large scale – in private companies, governmental institutions and NGOs – that aims to harmonise economic activities with the vision and strategy of the organisation, the improvement of internal and external communication and the monitoring of the performance of the organisation beyond its startegic objectives. A simple definition of the BSC involves three aspects: a communication tool, a measurement system and a strategic management system.

Suggested Citation

  • Carmen Mihaela Boteanu & Petrescu Marius, 2012. "A Brief History of the Balanced Scorecard: Tradition and Modernity," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 412-416, May.
  • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:412-416
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    More about this item

    Keywords

    strategic planning; the strategy focused organization; the Balanced Scorecard; measuring performance.;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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