Balanced Scorecard - The Learning & Growth Perspective - Campusgaia

RESEARCH Balanced Scorecard - The Learning & Growth Perspective P. Lakshmi Narayanamma* & Dr. K. Lalitha** ABSTRACT Balanced Scorecard allows management to measure financial and customer results, operations, and organization potential. The term “scorecard” signifies quantified performance measures and “balanced” signifies the system is balanced between short-term and long term objectives, financial and non-financial measures, lagging and leading indicators, internal and external performance perspectives. Simplistically three words. Passion, Performance and People. Learning and Growth is the area probably least measured by most companies and yet it holds the key to future sustainable success. Combined together they very much form the Evolution Engine that will take any organization well beyond anything it has achieved previously. Learning & Growth must focus on measurable outcomes to move the company forward. Learning & Growth of employees is the foundation for innovation & creativity. Organization must create a culture that encourages employees to participate and provide resources needed to do their jobs. In order to balance the scorecard learning and growth perspective play a key role. This paper talks about role of learning & growth perspective towards balanced scorecard and proposed model which explains the relationship among the perspectives of scorecard. KEYWORDS: Balanced Scorecard, Culture, Learning & Growth, Performance Introduction: Balanced Scorecard into today's integrated and aligned management system. About Balanced Scorecard The balanced scorecard is a concept that has become deeply embedded in organizations of all kinds around the world and yet, remarkably, it has only existed for fifteen years. The paper introduced the idea of focusing on human issues as well as financial ones, and measuring performance across a much wider spectrum than businesses had done before. Balanced Scorecard has been launched twenty years ago as a first set of principles for balanced strategic Objectives and Measures/KPIs setting and measurement. The “parents” of Balanced Scorecard are Dr. Robert S. Kaplan, Baker Foundation Professor at Harvard Business School and Dr. David P. Norton, the founder of the consulting team that contributed over the past two decades to the development of By the mid-1990s other organizational *Mrs. P. Lakshmi Narayanamma, Research Scholar, Krishna University, Machilipatnam Email: lakshmipathi.mba@gmail.com **Dr. K. Lalitha, Professor, Guntur Engineering College Email: lalitha.kadapa@gmail.com A Peer Reviewed Research Journal 59 aWEshkar Vol. XXI Issue 2 September 2016 WeSchool

Balanced Scorecard - The Learning & Growth Perspective Electric on performance measurement reporting in the 1950's and the work of French process engineers (who created the Tableau de Bord – literally, a "dashboard" of performance measures) in the early part of the 20th century. theorists had taken up Kaplan and Norton's work and modified the design method of balanced scorecards, ironing out early flaws. The idea of three generations of balanced scorecards was built on in Cobbold and Lawrie's work of 2002, which described how the balanced scorecard - or BSC, as it is often referred to - can support three distinct management activities and has evolved into the use of strategy maps as a strategic management tool. It has given a balanced view about the performance metrics. Starting from the day of its birth much of the research went on Balanced Scorecard. But, the research is of conceptual in nature. Recently many companies started designing their own scorecard with different perspectives. BSC implementation is an overall approach where collective effort is required from all levels of the organization. It requires in-depth analysis, planning & commitment from people. BSC has evolved from its early use as a simple performance measurement framework to a full strategic planning and management system. The “new” balanced scorecard transforms an organization's strategic plan from an attractive but passive do

The "parents" of Balanced Scorecard are Dr. Robert S. Kaplan, Baker Foundation Professor at Harvard Business School and Dr. David P. Norton, the founder of the consulting team that contributed over the past two decades to the development of Balanced Scorecard into today's integrated and aligned management system. The balanced scorecard is a .