You may be wondering about examples of organizations that have been greatly influenced by the balanced scorecard concept. Actually, a lot of companies, big and small are resorting to balanced scorecard that in 2004 alone, Bain stated that 57% of global companies are using balanced scorecards to align strategies with business objectives. Even the public sector such as government agencies and other non-profit organizations are also advocates of the balanced scorecard.
Although different organizations may have different targets to accomplish and metrics to measure, the gaining popularity of the balanced scorecard concept only goes to show that it has been accepted as a legit business strategy since it was conceptualized in the early 1990s. This is a great achievement for both Dr. Robert Kaplan and Dr. David Norton in coming up with such a brilliant idea.
Here are the some examples of organizations which have notably used the balanced scorecard. For non-profit organizations, the Oak Knoll Academy used the balanced scorecard as a management strategy for a fictitious private school, and Vinfen Corporation used it provide details of their strategic plan in measuring performance. Government organizations such as the Defense Financial Accounting Service (DFAS) used the balanced scorecard to develop a world-class financial plan, and the Department of Energy Federal Procurement System used it to provide performance assessments. The balanced scorecard is also widely used by commercial organizations such as in the airline industry and some other credit card corporations to make way for innovative strategies in improving the way products and services are being handled to yield more favorable business results.