BSC
Difference between revisions of "BSC"
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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: | 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 | + | * Financial Performance (FI) |
| − | * Operational Excellence | + | * Operational Excellence (OP) |
| − | * Customer Satisfaction | + | * Customer Satisfaction (CU) |
| − | * | + | * Learning and Growth (LG |
These perspectives (called [[Attribute|Performance 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. | These perspectives (called [[Attribute|Performance 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. | ||
| Line 12: | Line 12: | ||
The third generation adds a Vision Statement, definitions for strategic objectives to the second generation {{this}}: | The third generation adds a Vision Statement, definitions for strategic objectives to the second generation {{this}}: | ||
* [[t:BSC-VS]] | * [[t:BSC-VS]] | ||
| − | * [[t: | + | * [[t:BSM]] |
* Definitions for [[t:BSC-SO|Strategic Objectives]] | * Definitions for [[t:BSC-SO|Strategic Objectives]] | ||
* Definitions and targets for [[Metric]]s | * Definitions and targets for [[Metric]]s | ||
Revision as of 23:36, 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 (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 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 |