In business performance management, a third-generation balanced scorecard is a version of the traditional balanced scorecard, a structured report, supported by proven design methods and automated tools, that can be used by managers to keep track of the execution of activities by the staff within their control, and to monitor the consequences arising from these actions.
The third-generation version was developed in the late 1990s to address design problems inherent to earlier generations. It is distinguished by the components making up the balanced scorecard and the design process used to develop these components.
Read more about Third-generation Balanced Scorecard: Components of A Third-generation Balanced Scorecard, Design Process For A Third-generation Balanced Scorecard, See Also
Famous quotes containing the word balanced:
“Much of the ill-tempered railing against women that has characterized the popular writing of the last two years is a half-hearted attempt to find a way back to a more balanced relationship between our biological selves and the world we have built. So women are scolded both for being mothers and for not being mothers, for wanting to eat their cake and have it too, and for not wanting to eat their cake and have it too.”
—Margaret Mead (1901–1978)