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    Balanced Scorecard

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    raj92117
    The balanced scorecard is a performance metric that identifies and improves internal functions and external outcomes. It measures organizational performance by focusing on strategy, results, and aligning workers' daily tasks with strategic goals. The balanced scorecard framework includes financial, customer, internal process, and innovation/learning perspectives to translate a organization's vision and strategy into objectives and measures. It allows organizations to clarify their vision, monitor progress, and prioritize initiatives.

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    Balanced Scorecard

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    raj92117
    525 views19 pages
    The balanced scorecard is a performance metric that identifies and improves internal functions and external outcomes. It measures organizational performance by focusing on strategy, results, and aligning workers' daily tasks with strategic goals. The balanced scorecard framework includes financial, customer, internal process, and innovation/learning perspectives to translate a organization's vision and strategy into objectives and measures. It allows organizations to clarify their vision, monitor progress, and prioritize initiatives.

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    Presentation about Balance score card and its implementation

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    The balanced scorecard is a performance metric that identifies and improves internal functions and external outcomes. It measures organizational performance by focusing on strategy, results, and aligning workers' daily tasks with strategic goals. The balanced scorecard framework includes financial, customer, internal process, and innovation/learning perspectives to translate a organization's vision and strategy into objectives and measures. It allows organizations to clarify their vision, monitor progress, and prioritize initiatives.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    525 views19 pages

    Balanced Scorecard

    Uploaded by

    raj92117
    The balanced scorecard is a performance metric that identifies and improves internal functions and external outcomes. It measures organizational performance by focusing on strategy, results, and aligning workers' daily tasks with strategic goals. The balanced scorecard framework includes financial, customer, internal process, and innovation/learning perspectives to translate a organization's vision and strategy into objectives and measures. It allows organizations to clarify their vision, monitor progress, and prioritize initiatives.

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    The key takeaways are that a balanced scorecard is a performance metric used in strategic management to identify and improve internal functions and external outcomes. It helps organizations clarify their vision, strategy, and translate them into action.

    A balanced scorecard is a performance metric used in strategic management to identify and improve various internal functions and their resulting external outcomes. It attempts to measure and provide feedback to organizations in order to assist in implementing strategies and objectives.

    A balanced scorecard is used to improve organizational performance by measuring what matters, increase focus on strategy and results, align organization strategy with workers on a day-to-day basis, focus on the drivers key to future performance, and improve communication of the organization’s vision and strategy.

    BALANCED SCORECARD

    WHAT IS BALANCED SCORECARD?


    Balanced Scorecard is a performance metric used in strategic management to identify & improve various internal functions and their resulting external outcomes. It attempts to measure and provide feedback to organizations in order to assist in implementing strategies and objectives. It provides organizations with the ability to clarify vision and strategy and translate them into action.

    WHY BALANCED SCORECARD?


    Improve organizational performance by measuring what matters Increase focus on strategy and results Align organization strategy with workers on a day-to-day basis Focus on the drivers key to future performance Improve communication of the organizations Vision and Strategy Prioritize Projects / Initiatives

    BALANCE SCORECARD MANAGEMENT SYSTEM


    Implement a framework to align and focus the organization from top to bottom on its strategy

    Identify the related key change initiatives required to realize the strategy and mobilize the organization

    Create feedback processes at all levels to evaluate progress against strategy, monitor and manage issues and priorities, and measure performance and contribution to the business.

    OBJECTIVES
    The Balanced Scorecard, developed by Kaplan and Norton at Harvard University, provides an excellent framework for defining goals and objectives and translating them into specific measures. Financial perspective - Emphasizes the stakeholder concern about how efficient & effective the unit is at using its resources, their return on investment, shareholder value. Customer perspective -Emphasizes satisfying the needs of customers and thus defining corporate image. Process perspective -Emphasizes excellence at performing internal processes and in employee competencies. Innovation perspective -Emphasizes continuous improvement and the creation of value.

    GOALS & MEASURES


    FINANCIAL PERSPECTIVE
    GOALS Survive Succeed MEASURES Cash flow Quarterly sales Growth Operating income by division Increase in market share Increase in Return on Equity

    Prosper

    CUSTOMER PERSPECTIVE
    GOALS MEASURES

    New products
    Responsive supply Preferred suppliers Customer partnerships

    % sales from new products % sales from proprietary products On-time delivery (customer definition) Share of key accounts purchases Ranking by key accounts Number of cooperative engineering efforts

    PROCESS PERSPECTIVE
    GOALS MEASURES
    Technology Benchmark vs. competition capability Manufacturing Cycle time excellence Unit cost Yield Design Silicon efficiency productivity Engineering efficiency New product Schedule: Actual vs. Planned innovation

    INNOVATION PERSPECTIVE
    GOALS Technology leadership Manufacturing learning Product focus MEASURES Time to develop next generation Process time to maturity

    % products equalling 80% of sales

    Time to market New product introduction vs. competition

    CAUSE & EFFECT LOGIC

    FINANCIAL PERSPECTIVE IN BRIEF

    BALANCE SCORECARD & FINANCIAL OBJECTIVES

    PLACE FOR FINANCIAL PERSPECTIVE

    BALANCE SCORECARD FOR AN AUTOMOBILE COMPANY


    Category Financial (50%) Customer (20%) Measure EVA Unit Profit Market Growth Customer satisfaction survey Dealer satisfaction survey Above average rank on industry quality survey Decrease in dealer delivery cycle time Suggestions/employee Emp. satisfaction survey Weightage 25% 15% 10% 10% 10% 10% 10% 5% 5%

    Internal Process (20%)

    Innovation and Learning(10%)

    BSC FOR MARKETING NATURAL GAS VEHICLES


    o Ratio of natural gas vehicles per compress natural gas fueling stations

    o Type coverages (how many different natural gas vehicle types were available)
    o Natural gas vehicle investment pay-back time o Sales per type

    o Subsidies par automobile

    KEY BENEFITS OF USING BALANCED SCORECARDS

    CRITICISMS OF BALANCED SCORECARD


    Lack of a well Defined Strategy Too much focus on the lagging measures Use of Generic Metrics Self-serving managers

    REFERENCES
    http://www.bscdesigner.com/use-of-balanced-scorecard-inbanks-and-financial-organizations.htm Balanced Scorecard A performance assessment tool | Human Resource Blog : QubeHRM Why Does Business Need a Balanced Scorecard? - Harvard Business Review Management Control Systems, The Balanced Scorecard, and Responsibility Accounting

    Using a Balanced Scorecard Approach to Measure Performance


    Bell curve for balance scorecard - Google Search

    CONSOLIDATED & PRESENTED BY


    SHILPA AVHAD PRANAV KOCHA 03 25

    TRUPTI SHARMA
    BHARTI SOLANKI

    51
    54

    ROSHAN THAKUR
    SHRUTI VANMALI RACHITA VYAS

    55
    57 59

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