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While the term and the concept of the Balanced Scorecard was invented by Art Schneiderman and made famous by Kaplan and Norton, the roots of performance management as an activity go further back in time. Management historian Alfred Chandler points out that early performance management practices go right back to the early 19th century and the emergence of complex organisations.

Did you know that the Balanced Scorecard is the sixth most used management instrument in organisations today. It's an essential management system and a cornerstone of successful Strategy Execution Today, the Balanced Scorecard is considered an indispensable instrument for clarifying, communicating and managing strategy across organisations.

According to research by Bain in 2010, the Balanced Scorecard is the sixth most used management instrument in today's organisations, with around 50 percent of all 11,000 survey participants making use of it.

The world of academia has also jumped on the concept. By the end of 2011, Amazon listed nearly 4,000 English-language books related to the Balanced Scorecard. Meanwhile, many people have something to say about the BSC with Google hits close to seven million. The ultimate goal of a Balanced Scorecard is to experience Strategy Execution as a continuous process.

Today, the Balanced Scorecard provides much more than multi-view measurement; in many organisations, it's an essential management system and a cornerstone of successful Strategy Execution.

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