A framework which translates a company's vision and strategy into a coherent set of performance measures. Developed by Robert Kaplan and David Norton (published in the Harvard Business Review in 1993), a balanced business scorecard helps businesses evaluate how well they meet their strategic objectives. It typically has four to six components, each with a series of sub-measures. Each component highlights one aspect of the business. The balanced scorecard includes measures of performance that are lagging (return on capital, profit), medium-term indicators (like customer satisfaction indices) and leading indicators (such as adoption rates for, or revenue from, new products).