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THE B A L A NCED SCORECA RD

APPROACH

B YSUMAYYA QUA DRI

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WHAT IS B A L A NCED SCORECA RD?

The Balanced Scorecard is astrategic planning and managementsystem used to align businessactivites to the vision and strategyof the organization by monitoringperfomance against strategic goals

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BALANCED SCORECARD Concept

It was publishes in 1992 by kaplan andNorton, a book followed in 1996

Traditional performance measurement

that only focus on external accountingdata are obsolete

The approach is to provide balance tothe finacial persperctive.

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Why use a Balance Scorecard?

Improve organisational performance bymeasuring what matters

Increase focus on strategy and results

Align organization strategy with workers on aday-to-day basis

Focus on drivers key to future performance

Improve communication of the organizationsVision and Strategy

Prioritize Projects / Initiatives

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4 Original Business Perspectives

The BalancedScorecard modelsuggest that weview the

organization from4 perspective

Then Develop

metrics, collectdata and analyze itrelative to each ofthese perspectives

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4 Bu s iness Persp ec t ive Ques t ion

FinancialWhat must we do to create sustainable economic value?

Internal Bu siness Proc essTo satisfy our stakeholders what must be our levels of productivity, efficiency, andquality?

Learn ing and Grow thHow does our employee performance management system, including feedback toemployees, support height performance?

CustomerWhat do our Customer require from s and how are we doing according to thoserequirements

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B alan ced Sco recard Strateg y Map

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K ey Im plementa tion Suc cess Facto rs

Obtaining executive sponsorship and commitment

Involving a broad base of leaders, managers and employees

Enhance information system

Monitored Progress

Beginning interactive (two-way) communication first

Getting outside help if needed

Greater Customer Satisfaction

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Scorecard Disadvantages It is not a tool you can just think up one night to solve a problem. Instead, it

is recommended that you hold a meeting to plan out what goals you wouldlike to see your company reach in each of the four above areas.

while the balanced scorecard gives you an overall view of the four areas forconcern in business growth and development, these four areas do not paint

the whole picture. The financial information included on the scorecard islimited. Instead, to be successfully implemented, the balanced scorecardmust be part of a bigger strategy for company growth

many companies use metrics that are not applicable to their own situation. Itis vitally important when using balanced scorecards to make the informationbeing tracked applicable to your needs. Otherwise, the metrics will bemeaningless.

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Thank You for your time

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