The Balanced Scorecard Powerpoint Final
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The Balanced Scorecard Powerpoint Final

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A presentation given in my senior communication management course.

A presentation given in my senior communication management course.

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The Balanced Scorecard Powerpoint Final Presentation Transcript

  • 1. The Balanced Scorecard Presented by Ben Kraus and Cornell Woodson Bridging the gap between short-term budgeting and long-term strategy Robert Kaplan and David Norton’s
  • 2. The Balanced Scorecard’s Emergence
    • Robert Kaplan and David Norton first publicized the balanced scorecard in a series of journal articles and published this concept in their book, The Balanced Scorecard .
    • Since then it has evolved to become more workable in practice, focusing more on design processes.
  • 3. What is the Balanced Scorecard (BSC)?
    • The scorecard emerged in response to organizations’ gap between short-term financial activities and long-term strategy.
    • It is not a replacement for budgeting but merely a complement in the sense allows businesses to set performance benchmarks in non-financial areas.
  • 4. What is the Balanced Scorecard? (cont’d)
    • Performance standards are specifically applied to four perspectives: customer relations, finance, internal processes and learning and growth.
    • To ensure that both short-term and long-term goals are correlated, the scorecard relies on four processes: translating the vision, communicating and linking, business planning and feedback and learning.
  • 5. How is the Balanced Scorecard Used?
    • Translating the vision: helping all employees understand how their day-to-day work contributes to long-term goals.
    • Communicating and linking: disseminating long-term goals both up and down an organizational hierarchy, ensuring that both departmental and individuals objectives are in alignment.
  • 6. How is the Balanced Scorecard Used? (cont’d)
    • Business planning: taking long-term strategy and using it as the basis for how resources and capital are allocated.
    • Feedback and learning: the scorecard enables strategic and real-time learning because it measures daily performance and spending in the context of overarching goals, allowing organizations to make necessary changes.
  • 7. The Perception of the BSC
  • 8. Who Else Uses the BSC? Mark Coldren, Associate Vice President of Human Resources at Ithaca College Measure his departments effectiveness at reaching organizational goals and value to the organization. Add a few more staff members to the human resources department. Measure the effectiveness of a sales training program with a new product launch, which is what we might also use this for. Mr. Coldren suggest strongly that we enter into a conversation with the leadership of the organization about what they would like to see if the organization were to reach its optimal performance.
  • 9. Commercial Industry: Regional Airline
  • 10. Government Organizations: Defense Financial Accounting Service
  • 11. Non-profit Organization: Oak Knoll Academy
  • 12. Renewergy Power Systems
  • 13. Questions
  • 14.