Difference between revisions of "BSC"

Revision as of 18:34, 3 September 2021

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

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

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

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 The {{this}} 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 {{this}} are:
+[[File:OR-BSC.png|thumb|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 {{this}} are:
 * Financial Performance (FI)
 * Operational Excellence (OP)