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Management experts agree that learning and growth are the key to strategic success, the foundation for the future. A learning and growing organization is one in which knowledge management activities are deployed and expanding in order to leverage the creativity of all the people in the organization.²

In this article, we examine the importance of Balanced Scorecard in an organization and is it suitable for Indian Context or not.

For the empirical study of "Kaplan and his master mind - A bird's Eye-view on Strategic Management", we have considered the following hypothesis, which are given below: -

1. Balanced Scorecard gives the organization better performance

2. Balanced Scorecard is suitable in Indian Context

a) Mobil Oil (Now Exxon Mobil) leaped from last to first in profitability within its industry from 1993 to 1995 - a rank it maintained for the next 4 year.³

b) Cigna Insurance was losing $1 million a day in 1993, but within two years it was in the top quartile of profitability in the industry. Then in 1998 spun off a $3.5 billion division. What's the key to this dramatic performance?

These companies attribute at least part of the solution to having implemented the Balanced Scorecard.

c) In India, among Tata Companies, Tata Steel, Indian Hotels & Tata Consultancy Service (TCS) are using the Score Card in part or in full. The Birla group is experimenting within its corporate HR. RPG Group companies are using the Score Card at different levels.

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2 Balanced scorecard Institute, Washington, DC 20036.
3 CIO Magazine, May 15, 2002.

* Contributed by: -
Dr. R. P. Verma,
Ex. H.O.D. & Dean, Commerce and Business Management Dept.,
Arabinda Bhandari,
Strategic Management Researcher,
Ranchi University, Ranchi.