Strategic & Enterprise Management

Balanced Scorecard (BSC)

In 1992, Robert S. Kaplan and David Norton introduced the balanced scorecard (BSC), a concept for measuring a company's activities in terms of its vision and strategies. It gives managers a comprehensive view of the performance of a business.

Performance Prism

Performance Prism is a performance measurement and management framework. The Performance Prism approach consists of five inter-related perspectives on performance — represented as five facets of a prism — that pose some fundamental questions (A. Neely; C. Adams. 2000):

  1. Stakeholder Satisfaction: Who are the key stakeholders and what do they want and need?
  2. Strategies: What strategies do we have to put in place to satisfy the wants and needs of these key stakeholders?
  3. Processes: What critical processes do we require if we are to execute these strategies?
  4. Capabilities: What capabilities do we need to operate, maintain and enhance these processes?
  5. Stakeholder Contribution: What contributions do we require from our stakeholders if we are to maintain and develop these capabilities?

The Peformance Prism was developed by the Centre for Business Performance, Cranfield School of Management, Cranfield University, UK.