Recent trends in performance measurement systems – the balanced scorecard approach

Considers the need for performance measurement systems before introducing the concept of the balance business scorecard. Discusses the benefits of grouping strategic memasures into different categories, both internal and external. Covers the steps needed to make the scorecard work and the shortfalls of the system. Outlines recent software developments which can assist the process. Concludes that 60 per cent of Fortune 100 companies use this system, which gives visibility to worker performance in relation to strategy, and lists some hints for implementation.