Little about balanced scorecard, its importance within organization and its working in filling the gap between short-term and long-term strategic goals.
4. What is BSC?
▹ A balance scorecard is metric that measure the
business performance.
▹ One of the strategic and management system.
▹ Used to align business activities with the vision and
strategy of organization.
▹ Improves internal as well as external functions of
organization.
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6. History
Robert Kaplan and David Norton first
introduced it in a series of journal articles
and then published this concept in their
book, THE BALANCED SCORECARD.
Since then it is being used in different in
workable places.
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8. How BSC is used?
To ensure that both shot-term and long-term
goals are correlated, the scorecard relies on four
processes:
Translating the vision
Communicating and Linking
Business planning
Feedback and learning
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11. Perspectives
▹ Financial: often renamed Stewardship or
other more appropriate name in the
public sector, this perspective views
organizational financial performance and
the use of financial resources
▹ Customer/Stakeholder: this perspective
views organizational performance from
the point of view the customer or other
key stakeholders that the organization is
designed to serve
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12. Perspectives
▹ Internal Process: views organizational
performance through the lenses of the
quality and efficiency related to our
product or services or other key
business processes
▹ Organizational Capacity (originally called
Learning and Growth): views
organizational performance through the
lenses of human capital, infrastructure,
technology, culture and other capacities
that are key to breakthrough
performance
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14. Strategy map
▹ It is the graph showing your strategic
objectives including four perspective.
▹ It’s a common way to show an
organization’s strategy at a glance.
▹ Tells the story of your organization’s
strategy.
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