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Balanced Scorecard

A balanced scorecard is a strategic planning and management system used to evaluate performance across four perspectives: financial, customer, internal business processes, and learning and growth. It aims to balance financial measures with operational measures, such as customer satisfaction, product quality, and employee training, to provide managers a more comprehensive view of organizational performance. The balanced scorecard helps organizations clarify their vision and strategy, and translate them into action.

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169 views10 pages

Balanced Scorecard

A balanced scorecard is a strategic planning and management system used to evaluate performance across four perspectives: financial, customer, internal business processes, and learning and growth. It aims to balance financial measures with operational measures, such as customer satisfaction, product quality, and employee training, to provide managers a more comprehensive view of organizational performance. The balanced scorecard helps organizations clarify their vision and strategy, and translate them into action.

Uploaded by

Joblingz Joblingz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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BALANCED

SCORECARD
What is a balanced scorecard
• It is a strategic management performance metric used to identify and
improve various internal business functions and their resulting
external outcomes.
• It looks at strategic measures in addition to financial measures to get
more balanced view of performance
Purpose and aim of a balanced scorecard
• To balance financial concerns (stockholders),to balance customer
concerns, to balance process concerns and innovation concerns
during day-to-day operations
• To identify and improve their internal operations to help their
external outcomes
CONT’

• To achieve strategic objectives


• To provide quality with fewer resources
• To eliminate non-value added efforts
• To align customer priorities and expectations with the customer
• To track and evaluate progress
Principles and application of scorecard
1. Financial Perspective
-How are shareholders viewed
-what is the financial objective
2. Customer Perspective
-How do customer’s see the organization
-Understanding customer’s needs and how the organization is meeting
that need
CONT’
3. Internal Processes
-How well is the business functioning
-What should be the focus area
4. Learning and Growth
-Human capital
-sales training
-Company Culture
-Leadership
-How to create value adding with workers in the organisation
Benefits of using a balanced scorecard
• Better strategic planning
• Improved Project alignment
• Effective Performance measurement
Development of a balanced scorecard
• Identify your strategic objectives
• Create a strategy map
• Outline the measures
Example of a scorecard
references
• What Is A Balanced Scorecard? (A Definition) - ClearPoint Strategy
• Balanced Scorecard Definition & Examples of BSC (investopedia.com)
• purpose of balanced scorecard - 376 Words | Studymode
• What Is A Balanced Scorecard? (A Definition) - ClearPoint Strategy

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