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Latest revision as of 17:55, 8 December 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 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)

First Generation View

These perspectives (called 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.

Second Generation View

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

Third Generation View

The third generation adds a Vision Statement, definitions for strategic objectives to the second generation Balanced Scorecard. A third generation view consists of:

• 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

• Sales & Support Metrics
• Supply Chain Scorecard Metrics

Notes

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

Align Strategy Define Scorecard Negotiate Discuss Contract Custom Solution

Community Importance Rating: 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