14 September, 2022

Key Business Concepts 101: The Balanced Scorecard

By: Lotfi Al-Sarori

Vector Created by: Vectorjuice | Freepik
The Balanced Scorecard is a very popular strategic management framework, and it will be the subject of this article of our Key Business Concepts 101 series. The Balanced Scorecard (BSC) is a management tool that has grown in prominence since its introduction by Kaplan and Norton in a 1992 article in the Harvard Business Review.

The BSC can be used to create, carry out, keep tabs on, and modify corporate strategies and plans. As a strategic management tool, the BSC aligns a company's everyday actions with its long-term goals. The ability to monitor and quantify performance is another benefit. Financial, customer, process, and learning and growth are the four main pillars around which the company's strategic initiatives are built. The purpose of this effort is to develop a streamlined and simplified dashboard that provides a comprehensive view of the company's performance from these four perspectives.

About ESKADENIA Software

ESKADENIA® Software is a three-time MENA Award Winner & CMMI® level 3 certified company that is active in the design, development and deployment of a range of software products in the Telecom, Insurance, Enterprise, Education, Healthcare, and Internet application areas. The company is based in Jordan and has sales activities in Europe, the Middle East and Africa; more than 85% of its sales are exported to the global market. For more information, visit, or contact us at