The balanced scorecard was first devised by Kaplan and Norton (1992, Harvard Business Review, Jan.-Feb., pp. [71][72][73][74][75][76][77][78][79] as a nzeasurement franzework that was expected to overconze some of the dejiciencies of traditional perjormance systems. It gives a holistic view of the organization by sinzultaneously looking at four important perspectives financial, customer, internal processes, innovation and learning). Apart >om being a measurenlens framework, the balanced scorecard achieved recognition as a strategic management system. The new approach to pe$ormance measurement suggested in the balanced scorecard is consistent with the initiatives under way in many companies: cross-functional integration, continuous inlprovement, customer-supplier partnerships and team rather than individual accountability. In this sense, it fits well into the quality management philosophy, embracing some of the business excellence principles of Kanji's Business Excellence Model. Nevertheless, the balanced scorecard, as presented by Kaplan and Norton, is not without limitations. The causality links suggested among rhe four perspectives are particularly problematic and ambiguous. Additionally, it fails to recognize explicitly the contributions of important stakeholders, such as employees and suppliers. Taking into account the potentialities and linzitations of the traditional balanced scorecard, we propose the development of a new framework integrating the elements of Kanji's Business Excellence Model (Kanji, 1998, Total Quality Management, 9, pp. 633-643) and taking advantage of the strengths of its sound methodological support. The business scorecard may be improved by integrating the total quality nzanagement principles and critical success factors that constitute Kanji's Business Excellence Model. The Karljik Business Scorecard (KBS) we present in this paper is not only a conceptuczl model, but also a measurement model. Furthermore, Kanji's approach has the potential to give a deeper understanding of how achievenzents in the dzfferent areas feed each other to form a cycle of continuoi~s improvement. Finally, the implementation of K B S can help organizations to develop, cascade and implen~ent a strategy for business excellence.