The balanced scorecard and knowledge management The balanced scorecard and knowledge management - Deccan Herald - Internet Edition: "The concept of %u2018Balance Scorecard%u2019 provides a more accurate measure of an organisation%u2019s performance. S Muralidhar delves into this new tool of strategic management.

In recent years there has been a renewed interest in %u201Chuman resources%u201D and %u201Ccollaboration%u201D under the term %u201Cknowledge management%u201D. In this article the focus is on the relationship between the Balanced Scorecard and knowledge management.
Balanced Scorecard is a framework of strategic measurement based management. In fact Harvard Business Review considered Balanced Scorecard as one of the most important management factors. The Balanced Scorecard concept was conceived by Robert S Kaplan and David P Norton in their book %u2018The Balanced Scorecard -Translating Strategy Into Action.%u2019

According to them the Balanced Scorecard is a multi-dimensional work for describing, implementing and managing change at all levels in an organisation by linking objectives, initiatives, and appropriate measures through an organisation%u2019s strategy. The traditional financial accounting measures like return on investment (RoI), and earnings per share (EPS) may give misleading signals for continuous improvement and innovation. Today, the competitive business environment demands continuous improvement and innovations. Progressive organisations are able to quickly gain from the Balanced Scorecard concept of performance management. "  ¶ 07:36