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    Balanced Scorecard

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    atulmir
    The Balanced Scorecard (BSC) is a strategic performance measurement system created by Kaplan and Norton. It measures performance across four balanced perspectives: financial, customer, internal business processes, and learning and growth. The BSC allows organizations to track financial measures while also monitoring the drivers of future financial performance across the other perspectives. It provides a framework for aligning business activities to the organization's vision and strategy.

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    Balanced Scorecard

    Uploaded by

    atulmir
    423 views13 pages
    The Balanced Scorecard (BSC) is a strategic performance measurement system created by Kaplan and Norton. It measures performance across four balanced perspectives: financial, customer, internal business processes, and learning and growth. The BSC allows organizations to track financial measures while also monitoring the drivers of future financial performance across the other perspectives. It provides a framework for aligning business activities to the organization's vision and strategy.

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    The Balanced Scorecard (BSC) is a strategic performance measurement system created by Kaplan and Norton. It measures performance across four balanced perspectives: financial, customer, internal business processes, and learning and growth. The BSC allows organizations to track financial measures while also monitoring the drivers of future financial performance across the other perspectives. It provides a framework for aligning business activities to the organization's vision and strategy.

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    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    423 views13 pages

    Balanced Scorecard

    Uploaded by

    atulmir
    The Balanced Scorecard (BSC) is a strategic performance measurement system created by Kaplan and Norton. It measures performance across four balanced perspectives: financial, customer, internal business processes, and learning and growth. The BSC allows organizations to track financial measures while also monitoring the drivers of future financial performance across the other perspectives. It provides a framework for aligning business activities to the organization's vision and strategy.

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    BALANCED SCORECARD

    BSC is a measurement system , a devise created by Kaplan & Norton


    A strategic management system A balance between one perspective & another Balance between financial & nonfinancial perspective A balance between Internal & external success factors Balance between short term Financial Data with Long term Operational Drivers

    Why we need a balanced Scorecard?


    - to reflect the involvement of each departmental managers participation in translating VISION , GOAL & STRATEGY.

    Balanced Scorecard perspectives

    Financial

    Customer satisfaction

    VISION & MISSION

    Business Processes

    Learning & Growth

    What is a Balanced Scorecard (BSC)?


    It is a comprehensive set of performance measures that provides the framework for a strategic measurement & management system. BSC retains emphasis on achieving financial objectives, but also includes the performance drivers of these financial objective through four balanced perspectives.

    An organizations ability to learn, and to translate that learning into action rapidly , is the ultimate competitive advantage. JACK WELCH

    Balanced Scorecard perspectives State of the Art Products & services increases customer & in turn revenue base Improved processes lead to improved products for the customers Skilled creative employees improve the existing process Learning & growth of employees is the foundation for innovation & creativity All the above lead to improvement for shareholders value

    Products & Services

    Customer satisfaction

    Business Processes

    Learning & Growth

    Financial

    Cause- and Effect Relationships


    Financial ROCE/EVA

    Customer

    Customer loyalty On-time Delivery

    Internal Business Process

    Process Quality Process Cycle Time Employee skills

    Learning & Growth

    CEO Strategies for success


    A survey:
    Critical Success Factor Customer service Product /Quality Service Operating Efficiency Communication & information Technology Flexibility & Adaptability Innovation Speed to Market Dont know % choosing this factor 27% 25 18 9 9 7 2 3

    Limitations: Some non financial measures are still subjective Managers tend to concentrate on measures they are being measured ignoring others All the information cannot be shared Reports should be prepared as per BSC requirement and therefore probably to be changed

    Balanced Scorecard perspectives


    Financial To succeed financially,how should we appear to our shareholders

    Customer satisfaction To achieve our vision How should we appear To our customers VISION & MISSION

    Business Processes To satisfy shareholders & customers,what Business process Must we excel at

    Learning & Growth To achieve our vision,how will we sustain our ability To change & improve

    Frequently Cited Balanced Scorecard Measures Financial Perspective:


    Operating Income, revenue growth, revenues from new products, gross margin percentage, cost reduction in key areas, EVA,ROI

    Customer Perspectives:
    Customer satisfaction,Customer retention%, new customer acquisition, time taken to fulfill customers orders Market share in target segments.

    Internal Process perspective


    Innovation Process: new product development times, manufacturing capabilities Operations Process: Yield, defect rates, time taken to deliver product to customers, % age of on time deliveries, average time taken to manufacture orders Post Sales Service: Time taken to replace / repair defective products

    Learning & Growth Perspective :


    Employee Education & Skill Levels, Employee satisfaction, employee turnover rates, percentage of employee suggestions implemented

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