BSC
Balanced Scorecard
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 (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 ScorecardDiscuss Contract Custom Solution
Use Cases
Notes
- ↑ R.S. Kaplan & D.P. Norton: The Balanced Scorecard, Harvard Business Review Press
Align Strategy Define Scorecard Discuss Contract Custom Solution
Community Importance Rating:
Hierarchy
| ID | Name | Level | x |
|---|---|---|---|
| BSC | Balanced Scorecard | 0 | BSC |
| BSC-VS | Vision Statement | 1 | BSC-VS |
| BSM | Business Strategy Map | 1 | BSM |