The Balanced Scorecard: What is it? Who needs it?
Abstract: The Balanced Scorecard was originated by Drs. Robert Kaplan and David Norton who describe it as follows
* “The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation.”
The balanced scorecard views the organization from four perspectives, and suggests processes to collect data and develop metrics for each perspective:
1. Learning and Growth
2. Business Process(es)
*Adapted from Robert S. Kaplan and David P. Norton, “Using the Balanced Scorecard as a Strategic Management System,” Harvard Business Review (January-February 1996):
Speaker Chet Franklin:
In the 1960’s, Phil Crosby, started his ITT corporate training in Zero Defects policy. Chet worked at ITT as a Project Engineer and was one of Phil’s trainees. That was when he first joined ASQC. In the 1980’s there was training in TQM. As an engineering manager at Hughes Aircraft he lent two of his engineers to GM to be on a Six Sigma team with Motorola. They brought back Six Sigma principles and Chet included those in his staff training. His other training has included ISO 9000 Lead Auditor, Lean Six Sigma and Six Sigma Green belt. He has conducted supplier audits and audits for ISO 9000 and ISO 17025.
He has developed and conducted training on TQM, Teaming, SPC, Laboratory Accreditation, Measurement Uncertainty, Earned Value Management, FMEA and other topics. He is also chair and Programs Chair of ASQ Section 711, and principal in the Franklin Training Group.
Please join us! We are meeting at the:
For directions, go to our website at www.asq711.org
John Schulz, Secretary