Difference between revisions of "BSC"

Revision as of 22:05, 29 September 2020

The Balanced Scorecard is a Term describing the strategic planning and management Practice to monitor the implementation and execution of the strategy.

Balanced refers to implementing diversity in metrics that prevent the risk of implementing a single-perspective strategy. Generally accepted perspectives required in a Balanced Scorecard are:

• Financial performance
• Operational Excellence
• Customer Satisfaction
• Employee Learning and Growth

These perspectives (called Performance Attributes in OpenReference) are a first generation view of the Balanced Scorecard. Each perspective is measured by one or more Metrics. For each Metric the Balanced Scorecard has a target value.

The second generation adds the Strategy Map concept. The Strategy Map enables the representation of cause and effect between objectives and outcomes.

The third generation adds a Vision Statement, definitions for strategic objectives to the second generation Balanced Scorecard:

• Vision Statement
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• Definitions for Strategic Objectives
• Definitions and targets for Metrics

See also: The Balanced Scorecard^{Discuss Contract Custom Solution}

Use Cases

• Sales & Support Metrics
• Supply Chain Scorecard Metrics

Notes

1. ↑ R.S. Kaplan & D.P. Norton: The Balanced Scorecard, Harvard Business Review Press

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