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•The balanced scorecard is a strategic planning and
management system.
•It enables organizations to clarify their vision and strategy
and translate them into action.
•It provides feedback around both the internal business
processes and external outcomes in order to continuously
improve strategic performance and results.
HISTORY:
• This was developed in the early 1990's by Drs. Robert Kaplan
(Harvard Business School) and David Norton.
• They named this system the 'balanced scorecard‘ as a
performance measurement.
• The balanced scorecard approach provides a clear
prescription as to what companies should measure in order to
'balance' the financial perspective.
 The balanced scorecard retains traditional financial measures.
But investments in long-term capabilities and customer
relationships were not critical for success
 . These financial measures are inadequate, however, for guiding
and evaluating the journey that information age companies must
make to create future value through investment in customers,
suppliers, employees, processes, technology, and innovation.
Perspectives of Balanced
Scorecard
• The ‘Balanced Scorecard’ solution - Kaplan & Norton
– A set of measures based on
• Finance
• Customer
• Internal processes
• Learning and growth
– Linked to vision and strategy
– ‘Balances’ short and long term needs
– Builds ‘leading’ and ‘lagging’ indicators
Finance
• To succeed financially, how should we appear to our
shareholders
• Financial measures
– Show economic consequences of actions already
taken
– Show if strategy, implementation have given results
• Timely and accurate funding data.
• Enough handling and processing of financial data.
Customer
• To achieve our vision, how should we appear to our customers
• Measures typically can be related to:
– Customer satisfaction
– Customer retention/business expansion with existing
– New customer acquisition
– Value delivery - to customer
– Market and account share in targeted segments
• Segment specific drivers could be:
– Shorter lead times
– Innovative products and services
– Better quality
Internal Business Processes
Identify
the
market
Create the
Product/
Service
Offering
Service
the
Customer
Build the
Products/
Services
Deliver the
Products/
Services
Learning and Growth
To achieve our vision, how will we sustain our ability to change and improve
• The infrastructure that the organisation must build to create long-term growth
and improvement
• Employee training and corporate cultural attributes related to both individual
and corporate self-improvement.
• Measures include
– Employee Satisfaction
– Retention
– Training
– Skills
Learning & Growth
Measurement Framework
Why Implement a Balanced
Scorecard?
• Increase focus on strategy and results
• Improve organizational performance by measuring
what matters
• Align organization strategy with the work people
do on a day-to-day basis
• Focus on the drivers of future performance
• Improve communication of the organization’s
Vision and Strategy
• Prioritize Projects / Initiatives
Balanced scorecard

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Balanced scorecard

  • 1.
  • 2. •The balanced scorecard is a strategic planning and management system. •It enables organizations to clarify their vision and strategy and translate them into action. •It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results.
  • 3. HISTORY: • This was developed in the early 1990's by Drs. Robert Kaplan (Harvard Business School) and David Norton. • They named this system the 'balanced scorecard‘ as a performance measurement. • The balanced scorecard approach provides a clear prescription as to what companies should measure in order to 'balance' the financial perspective.
  • 4.  The balanced scorecard retains traditional financial measures. But investments in long-term capabilities and customer relationships were not critical for success  . These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation.
  • 5. Perspectives of Balanced Scorecard • The ‘Balanced Scorecard’ solution - Kaplan & Norton – A set of measures based on • Finance • Customer • Internal processes • Learning and growth – Linked to vision and strategy – ‘Balances’ short and long term needs – Builds ‘leading’ and ‘lagging’ indicators
  • 6.
  • 7. Finance • To succeed financially, how should we appear to our shareholders • Financial measures – Show economic consequences of actions already taken – Show if strategy, implementation have given results • Timely and accurate funding data. • Enough handling and processing of financial data.
  • 8. Customer • To achieve our vision, how should we appear to our customers • Measures typically can be related to: – Customer satisfaction – Customer retention/business expansion with existing – New customer acquisition – Value delivery - to customer – Market and account share in targeted segments • Segment specific drivers could be: – Shorter lead times – Innovative products and services – Better quality
  • 9. Internal Business Processes Identify the market Create the Product/ Service Offering Service the Customer Build the Products/ Services Deliver the Products/ Services
  • 10. Learning and Growth To achieve our vision, how will we sustain our ability to change and improve • The infrastructure that the organisation must build to create long-term growth and improvement • Employee training and corporate cultural attributes related to both individual and corporate self-improvement. • Measures include – Employee Satisfaction – Retention – Training – Skills
  • 12. Why Implement a Balanced Scorecard? • Increase focus on strategy and results • Improve organizational performance by measuring what matters • Align organization strategy with the work people do on a day-to-day basis • Focus on the drivers of future performance • Improve communication of the organization’s Vision and Strategy • Prioritize Projects / Initiatives