balanced scorecard


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balanced scorecard

A document that translates an organisation’s mission and strategy into a comprehensive set of performance measures which provide the framework for a strategic measurement and management system. The balanced scorecard retains an emphasis on achieving financial objectives, but also includes the performance drivers of those financial objectives. The scorecard measures organisational performance across four balanced perspectives:
(1) Financial (i.e. cost efficiency)
(2) Customers
(3) Internal business processes
(4) Learning and growth (i.e. making changes and sustaining improvements).
References in periodicals archive ?
The Palladium Balanced Scorecard Hall of Fame for Executing Strategy publicly recognizes organizations that have successfully executed their strategies and achieved breakthrough results through the use of Kaplan and Norton's strategy- management system.
The 9th Business Process Management and Balanced Scorecard Seminar - Workshop 2018 will focus on the following key topics: concept and framework of BPM, process map, process tree diagram, value stream map (VSM), BSC Model, process performance management and metrics, and some case studies.
Para Dorweiler e Yakhou (2005), o Balanced Scorecard no setor publico deve ser utilizado para definir e articular a execucao de estrategias, fornecendo uma visao integrada dos objetivos, dos indicadores, das metas e das iniciativas, a partir das quatro perspectivas basicas.
Mr Omar also briefed them on principles, approach and implementation of the balanced scorecard, and shared best practices in implementing it.
This characteristic of the Balanced Scorecard places strategy at the core of management.
The key areas of focus, while developing the Balanced Scorecard for the bank, including building the strategy map for the bank, defining the right measures, aligning key initiatives and assigning the right ownership have been explained in a lucid and easy to understand flow, which makes it both an easy read, and ready-to-implement set of instructions.
Creating only three or four strategic measures for each perspective of balanced scorecard can help the organization following performance indicators which are necessary for selected strategy, this let the management to concentrate on long-term goals rather than short-terms.
Balanced Scorecard is comprehensive a strategic management model which foreseen to determine organization's vision and strategy (Kaplan & Norton, 1999; Virtanen, 2009; Niven, 2002).
Value of the balanced scorecard for organizational communication in knowledge-intensive firms
Harvard Business Review recognised the Balanced Scorecard as one of the most influential management ideas in the past 75 years.
Tamil Nadu, April 28 -- eXampleCG's new deal involves consulting, advising and training the client to implement enterprise wide Balanced Scorecard for four business units and shared support services.

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