The balanced score card

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The balanced score card

  1. 1. BALANCED SCORECARD Priyanka Sansare-2012138
  2. 2. Dr. David Norton and Dr. Robert Kaplan
  3. 3. What exactly is a Balanced Scorecard? A strategic planning and management system used to align business activities to the vision statement of an organization. How does a Balanced Scorecard help? A Balanced Scorecard attempts to translate the sometimes vague, pious hopes of a company's vision/mission statement into the practicalities of managing the business better at every level.
  4. 4. To embark on the Balanced Scorecard path an organization first must know •The company's mission statement •The company's strategic plan •The financial status of the organization •How the organization is currently structured and operating •The level of expertise of their employees •Customer satisfaction level
  5. 5. Four Perspectives First generation balanced scorecard VISION & MISSION
  6. 6. Second generation balanced scorecard
  7. 7. Third-generation balanced scorecard •Destination statement •Strategic linkage model •A set of definitions for each of the strategic objectives •A set of definitions for each of the measures selected to monitor each of the strategic objectives, including targets
  8. 8. Balanced Scorecard Software There are many software packages on the market that claim to support the usage of Balanced Scorecard system. For any software to work effectively it should be: •Compliant with your current technology platform •Always accessible to everyone - everywhere •Easy to understand/update/communicate
  9. 9. A Balanced Scorecard should result in: 1. Improved processes 2. Motivated/educated employees 3. Enhanced information systems 4. Monitored progress 5. Greater customer satisfaction 6. Increased financial usage
  10. 10. Last but not the least… It is of no use to anyone if only the top management keep the objectives in their drawers/cupboards and guard them like the Holy Grail. Feedback is essential and should be ongoing and contributed to by everyone within the organization. And it should be borne in mind that Balanced Scorecards do not necessarily enable better decision-making!

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