Difference between revisions of "BSC"

Revision as of 21:50, 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 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
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

Align Strategy Discuss Contract Custom Solution

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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 Balanced Scorecard,Metrics,Perfomance,Metrics that Matter

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

Discuss Contract Custom Solution

@@ Line 6: / Line 6: @@
 * Customer Satisfaction
 * Employee Learning and Growth
-These perspectives (called [[Attribute|Performance Attributes]] in {{OR}}) are a first generation view of the {{this}}. Each perspective is measured by one or more [[Metric|Metric(s)]]. For each [[Metric]] the {{this}} has a target value.
+These perspectives (called [[Attribute]]s in {{OR}}) are a first generation view of the {{this}}. Each perspective is measured by one or more [[Metric]]s. For each [[Metric]] the {{this}} 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.