The balanced scorecard approach has been used as a strategy evaluation and strat

The balanced scorecard approach has been used as a strategy evaluation and strategy formulation method since the early-1990s when Kaplan and Norton (1992) first introduced the idea. Variations of the balanced scorecard were used by over 70% of Fortune 1000 companies by 2002, and companies in virtually all industries use the scorecard approach as a means of approaching performance evaluation.