Listed below are all the topics on Balanced Scorecard: BALANCED SCORECARD History Or Background of Balanced Scorecard How useful is the Balanced Scorecard to all level of managements? How To Get Data for the Balanced scorecard report? Using the Integrated Approach of using the four key components in the Balanced Scorecard The Key Or Critical [...]
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Append below are some examples of the Internal Process Perspective KPI:- On-Time Delivery Administrative expense/total revenues(%) Administrative expense/customer($) Average Lead Time(No) Contracts filed without error (No) Lead time, product development(No) Lead time, from order to delivery (No)
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Append below are some examples of the Customer Perspective KPI:- Employee participation Training hours per employee Average years of service Absenteeism Turnover rate Employee suggestions Employee satisfaction index(No) Employee’s view(empowerment index)(No) Shareof employees below age X(%) Non-product-related expense/customer/year($) Ratio of new products(less than X years old) to full company catalogue(%) Near misses Accidents Value added [...]
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Append below are some examples of the Customer Perspective KPI:- Total assets($) Total assets/employee($) Revenues/total assets(%) Revenues from new products or business operations($) Revenues/employee($) Profits/total assets(%) Profits from new products or business operations($) Profits/employees($) Return on net assets($) Return on total assets(%) Return on capital employed(%) Return on equity (%) Return on Investment(%) Cash flow [...]
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Append below are some of the balanced scorecard examples of the Financial Perspective (KPI):- Annual sales/customers($) Average custome size($) Customer rating(%) Average time from customer contact to sales response(No) Average time spent on customer relations(No) Customers/employee ( No or %) Satisfied-customer index(%) Customer-loyalty index(%) Market Share No of Customer Complaints Return Rates Response Time Cost/customer($) [...]
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It is important to understand the key or critical success factors for the Balanced Scorecard system to be successful: The leader/top management/board should walk the talk and utilizes the scorecard regularly in reviewing performance and in making plans for the future. The Balance Scorecard system should be used on its day-to-day use throughout all levels [...]
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Looking merely at the financial aspects namely the final results will not be able to resolve the challenges faced by an organization. The balanced scorecard looks at the following four fundamental performance areas of an organization and set major/crucial measures/matrix/key performance indicators for them:- 1. Financial performance 2. Customer satisfaction 3. Internal operations 4. Learning [...]
Append below the following sources or references where we are able to obtain the necessary matrix measures for the four components of the Balanced Scorecard: FINANCIAL CUSTOMER • Annual report • Performance reports • Analyst reports • Benchmark reports • Customer complaints • Marketing/Sales Dept • Performance reports • Benchmark reports INTERNAL PROCESS LEARNING & GROWTH • Operational reports • Manufacturing reports [...]
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Balanced Scorecard is a useful management tool for charting the company’s Strategic management system/process. Besides, it is also deployed for the business’s Measurement system and as Communication Tool. Also, those companies which set up Balanced Scorecard are able to service the customers better due to the following reasons:- knowing customer expectations “up front”, establishing strategies [...]
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A brief history or background of the Balanced Scorecard: Balanced Scorecard is not at all new in the market. It was initiated in 1992 with many companies especially Fortune 1000 adopting the BSC with phenomenal result. It was originally developed in the early 1990’s by Dr Robert Kaplan ( Prof Harvard Univ) and David Norton [...]
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