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 Success Factors Of Implementing A [...]
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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 per employee
Diversity rate
Work – Life Balance
Employee productivity
Cross – training
Health promotion
Personal goal achievement
Leadership development
Knowledge management
Ethics [...]
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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($)
Return on total assets(%)
Return on capital employed(%)
Return on equity (%)
Return on Investment(%)
Cash flow ($)
Return on investment (%)
Total costs($)
Revenue($)
Gross Margin($)
Net Income($)
Profit as % of sales
Economic Value Added
Compound Growth [...]
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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($)
Customers Lost(No or %)
Customer retention
Number of customers
Annual sales per customer
Marketing cost as a % of [...]
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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 of the [...]
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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 and innovation
By taking such integrated [...]
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
• Benchmark data
• Competitor data
• Project plan
• Human Resources data
• Core values
• Benchmark reports
• Consulting studies
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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 and goals consistent [...]
Continue reading about How Useful Is The Balanced Scorecard To The Different Level of Management?
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 (Consultant). Both [...]
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