The balanced scorecard, introduced by Robert Kaplan and David Norton, has evolved from an improved performance measurement system to an integrated strategic planning, implementation, and scorecarding system. Simple yet powerful second-generation balanced scorecards depict the organization's strategy through a series of strategy maps and scorecards that describe and measure the cause-and-effect linkages that occur between the organization's high-level vision and its desired strategic outcomes. Although the balanced scorecard has been widely adopted in private, government, and not-for-profit settings, there have been only a few attempts to introduce scorecarding in the education sector, and these have been primarily in administrative functions rather than in key operating program areas. This article presents a description of a second-generation balanced scorecard specifically designed for a graduate program at the University of Waterloo in Ontario, Canada and provides a comprehensive walk-through and discussion to illustrate its strengths and limitations.
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