Difference between revisions of "BSC"

Revision as of 15:38, 17 November 2021

The Balanced Scorecard is a Term describing the strategic planning and management Practice to monitor the implementation and execution of the strategy by means of a set of agreed metrics for agreed perspectives.

Balanced Scorecard example

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 (FI)
Operational Excellence (OP)
Customer Satisfaction (CU)
Learning and Growth (LG

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
Business Strategy Map
Definitions for Strategic Objectives
Definitions and targets for Metrics

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

Use Cases

Notes

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

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Hierarchy

ID	Name	Level	x
BSC	Balanced Scorecard	0	BSC
BSC-VS	Vision Statement	1	BSC-VS
BSM	Business Strategy Map	1	BSM

Balanced Scorecard 0 0 Balanced Scorecard,Metrics,Perfomance,Metrics that Matter A tool to manage the internal and/or external performance of a business or supply chain and to monitor the implementation and execution of the business strategy

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

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