Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.

 

Term of the day

balanced scorecard

An approach to performance measurement (popularized by Bob Kaplan and David Norton) that assumes no single performance measure can capture the success with which an entity’s strategic objectives have been achieved.  Instead, balanced scorecard proponents advocate capturing a “dashboard” of several performance measures, which are typically:

- grouped into four to six functional categories (for example, customers, employees, processes, and growth)

- measured as outcomes that are linked to the...