The Balanced Scorecard: Evolution to long-term performance

The Balanced Scorecard was introduced over ten years ago by Robert. S. Kaplan and David P. Norton with significant fanfare and excitement. This study traced the evolution of the initial Balanced Scorecard Model into its current form and investigated its ability to generate improved long-term performance. The results of the study showed that the Balanced Scorecard concept is widely accepted worldwide as a strategic performance management tool but is not as widely adopted as has been reported. Study results also showed that adoption of the Balanced Scorecard does not necessarily guarantee improved long-term performance. Managers are therefore advised to carefully evaluate the likelihood of achieving benefits from the implementation of the Balanced Scorecard into their organizations until the parameters needed to ensure long-term performance improvements are more fully understood.