The Balanced Scorecard,A Wikipedia Perspective

Through the years, Wikipedia has known to be the repository of information of almost anything above and under the sun. Being considered as the best known wiki, Wikipedia has opened the doors to other sites that allow sharing of information to build an encyclopedia type of medium. Compared to the normal encyclopedia, wikis are more accessible. All you need is an internet connection and you are all set to discover the wonders of the world. The growing popularity of wiki ‘s in the internet can be attributed to people ‘s demand to create some sort of a knowledge management tool that can be used as a standard for information facilitation.

The balanced scorecard is one of the many topics discussed in Wikipedia. It says that the balanced scorecard helps in providing a more comprehensive approach in doing business, wherein activities of a company are being measured to determine if they are still in accordance to business goals and objectives. It also tackles a brief history on how the balanced scorecard came about, with the spotlight focused on Dr. Robert Kaplan and Dr. David Norton. These brilliant men were the pioneers of the balanced scorecard and introduced in to the world in early 1990s.

The processes involved in the balanced scorecard concept were also emphasized in the Wikipedia web site. This will help interested parties to understand better the principles behind it to optimize its full potential once applied in their organization. There is no such thing as a perfect system. But then again, it is critical to gather and select the appropriate performance measures for the different areas of the enterprise. This too is included in the Wikipedia definition of balanced scorecard.