The Balanced Scorecard: Developments and Challenges

As the years have passed, the Balanced Scorecard, in some sense of this phrase, has been adopted on a worldwide basis. But the variations in conceptualizing and implementing it are so great that it is not always clear what, exactly, is being adopted and whether an intervention using the name "balanced scorecard" is having the impact its sponsors have envisioned. In this White Paper, I'll provide • a retrospective on the balanced scorecard, and • an overview of its successes and problems. RETROSPECTIVE Since the late 1980s, those developing the balanced scorecard approach have, step-by-step, gradually filled in a more and more sophisticated vision of its full implications. The approach has developed in a number of stages or generations, as some have called it