First proposed by Harvard professors Kaplan & Norton in the 1990’s, the Balanced Scorecard provides an intuitive, practical approach to understanding and developing strategy. It drives consideration of performance from multiple perspectives, beyond just a financial lens.
Perhaps most importantly, it focuses on implementation and execution — specifically the links between (for example) financial performance and market, customer, operational and people strategies; and on the importance of alignment between individuals, teams and corporate divisions. See Harvard Business Review and the Balanced Scorecard Institute for more information.