This is also a conventional means of navigating a document that benefits all users. In the same way that you cant fly an airplane with just one instrument gauge, you cant manage a company with just one kind of performance measure. The name balanced scorecard comes from the idea of looking at strategic measures in addition to. Managers and project managers gauge the success of any project undertaken through a new project scorecard. The following is an example of how one might develop a balanced scorecard. Examples, samples, and templates try smartsheet for free if your organization is looking for more structure whether it is a startup or an established company it can only strengthen its position by refining strategy. Jun 09, 2016 the following balanced scorecard example will demonstrate how this works. Balanced scorecard examples and templates smartsheet. Introduction the bsc is a conceptual framework for translating an organizations vision into a set of performance indicators distributed among four perspectives. Though this scorecard is used to monitor all the activities, another main purpose that it fulfills is that it even keeps a check whether all the organizational regulations and policies are implemented.
A balanced scorecard consists of an integrated set of performance measures that are derived from the companys strategy and that support the companys strategy throughout the organization. Though this scorecard is used to monitor all the activities, another main purpose that it fulfills is that it even keeps a check whether all the. Although these all differ in format and details, they serve to illustrate the visual effectiveness of the balanced scorecard approach to strategic management. Public sector organisations, for example, may have different aims and objectives and may have to tailor the scorecard to reflect this. Research paper on balanced scorecard strategic management. To clearly achieve your objectives, a unified strategy is a mustand strategy mapping is one of the best ways to achieve that goal. In the development of this scorecard, relevant metrics will have to be predetermined. Infosys is a particular example of a company that has adopted the bsc for over six years and, on the strength of its. Anytown hospital has just finished a twoday retreat where they revised and updated their mission and vision statements and drafted a strategic plan. Page includes various formats of balanced scorecard examples for pdf, word and excel. If you need help in creating a detailed balanced scorecard with elaborate data on the problem, journey and the steps taken, this template would be handy with its essayed description. To do this you should look at a balanced scorecard software solution like quickscore. Balanced scorecard basics communicat business systems. A few examples will illustrate how the scorecard uniquely combines management and measurement in different companies.
The left pane displays the available bookmarks for this pdf. University scorecard an example of university scorecard with specific kpis. The basic idea of the balanced scorecard bsc is to focus the organisation on performance measures and implementing the current strategy. Tpm total productive maintenance total productive maintenance tpm is a worldwide known management system, born in 1971 in nippon denso, a toyota division in japan, which basic aims the loss elimination in plant processes by continuous training. By the end of this article, youll be a balanced scorecard expert. What follows, provides guidance and advice on the development and implementation of a balanced scorecard for those organisations considering the introduction of a. Infosys receives 2007 balanced scorecard hall of fame award. For example, for a digital document to be admissible in court, that document needs to be in a format that cannot be altered without leaving a digital record of what. B est of hbr 1992 the balanced scorecard measures that drive performance by robert s. Internal scanning is a strategic planning technique that helps in determining the firms strengths and weaknesses and any related issues inside the firm. From the above diagram, you will see that there are four perspectives on a balanced scorecard. The real power of a properly developed balanced scorecard is that it links the performance measures to the organisations strategy. Introduction the purpose of this publication is to describe the process of implementing a balanced scorecard bsc initiative in a small rural hospital setting, including how to identify if an organization is ready for the implementation phase, what the various steps are in the process. Balanced scorecard collaborative said, companies in the asia pacific, particularly india, are creating new benchmarks in becoming strategyfocused organizations.
A practitioners guide to the balanced scorecard pdf 268kb. The balanced scorecard, by providing greater openness and visibility of an agencys mission and strategy, can give rankandfile employees a better sense of what their jobs are about, and empower them to improve how that work is done, averson. Feb 25, 2009 mba presentation explaining kaplan and nortons balanced scorecard approach. Balanced scorecard definition, explanation, example. As a result, oam is implementing a balanced scorecard bsc performance measurement and performance management program pmp as the methodology for assessing the agencys acquisition related business functions. Externalscanning is a strategic planning technique that helps in determining the firms opportunities and threats and any related issues outside the firm. Infosys receives 2007 balanced scorecard hall of fame. Environmental protection agency acquisition system. David norton and i introduced the balanced scorecard in a 1992 harvard. The information included is fictional and is provided to simply demonstrate the process.
Obtain customer feedback customer service rating and act on such feedback. Balanced scorecard exercise lecture 5 starbucks business. Feb 10, 20 the remainder of this document will focus on the basic assumptions and principles entailed in modifying the process, the actual components of a modified balanced scorecard process, and suggested performance indicators that could be incorporated into a rural hospital balanced scorecard. It is interesting to note that scorecard is actually a bit of a misnomer. Cost savings and efficiencies for example, a specific goal to reduce production costs by 10% by 2020. In 1990 kaplan and norton led a research study of a dozen companies exploring new methods of performance mea surement. But financial measures tell the story of past events, an. This example is representative of the key elements that need to be defined and executed by any member of the. The customer perspective is perhaps the hardest part of the balanced scorecard. Figure 3 is an example of the balanced scorecard model. A balanced scorecard consists of an integrated set of performance measures that are derived from the companys strategy and that support the companys strategy throughout the organization a strategy is essentially a theory about how to achieve the organizations goals. Creating an excelbased balanced scorecard to measure the. Under the list of documents, you can add the entire toolkit to your shopping cart. Balanced scorecard paper bsop588 june 8, 2014 professor walter mamak in this day and age of technology, strategically planning the performance of your organization, many companies have or will implement the new balance scorecard method as the new catalyst for implementing some kind of strategy improving or monitoring performance.
Hbr 1992 the balanced scorecard measures that drive performance by robert s. For example, consider the linkages in the service management profit chain. Balanced scorecard exercise lecture 5 free download as powerpoint presentation. Throughout this report, the committee recognizes the need for the department of homeland security dhs to take a strategic approach to planning for and management of workforce health protection. The balanced scorecard is the closest management tool to a crystal ball as you will find.
The balanced scorecard retains traditional financial measures. In this ebook, youll find five balanced scorecard strategy maps for these forprofit organizations. Although the committee recognizes that there are multiple approaches dhs can take to these ends, this appendix provides as an example the performance measure framework and balanced scorecard currently used by the u. A balanced scorecard is more than just a strategy map, but the strategy map is an important element. Scribd is the worlds largest social reading and publishing site. An example of a poorly scanned and created pdf document file. Balanced scorecard what is a bsc, tips, and examples. Balanced scorecard not only a set of strategic goals.
Balanced scorecard, strategy, balanced, viewpoints. Saving sat first and act second scores into a pdf file. Pdf format is a file format developed by adobe in the 1990s to present documents, including text formatting. Given our overall strategy and strategic themes, how can we create value for our customers through our products, processessystems. Mba presentation explaining kaplan and nortons balanced scorecard approach. And after mentioning my balanced scorecard in an episode of the limit does not exist. Balanced scorecard 101 a brief overview of the bsc methodology steve logan department of energy 202 28783 steve. Balanced scorecard, example and case study free download as powerpoint presentation. When designed properly it can provide an excellent management tool to help keep businesses and organisations on track.
The balanced scorecard bsc is a performance measurem ent and strategic management system which appears suitable for use by all types and sizes of. Pdf the use of the balanced scorecard in small companies. Financial, customer, internal business processes, and learning and growth. Converting a table of contents created with microsoft. The remainder of this document will focus on the basic assumptions and principles entailed in modifying the process, the actual components of a modified balanced scorecard process, and suggested performance indicators that could be incorporated into a rural hospital balanced scorecard.
You want to implement a successful strategic framework throughout your organization, and youve heard that the balanced scorecard is one of the most popular choices. Documents similar to balanced scorecard exercise lecture 5. Appendix c performance measure framework and balanced scorecard example. A full balanced scorecard example including 6 templates.
The four perspectives in a balanced scorecard bernard marr. Infosys is a particular example of a company that has adopted the bsc for over six years and, on the strength of its strategyfocused. Well dive deeper into examples of each perspective below. It shows exactly what an individual should include as part of the companys strategic plan. Creating an excelbased balanced scorecard to measure the performance of colleges of agriculture paper presented at american agricultural economics association annual meeting long beach, ca july 23 26, 2006 i. This screenshot of the sample output shows a pdf file with bookmarks. Balanced scorecard excel template clearpoint strategy. Below we offer links to some files and publications that will show you what the documents and results of balanced scorecards look like. Balanced scorecard software is an excellent option, but perhaps you want to build a simple scorecard before you commit to a longterm solutionso weve provided one for you. Measure and monitor progress towards strategic targets. Balanced scorecard example the following is an example of how one might develop a balanced scorecard. Norton the balanced scorecard tracks all the important elements of a companys strategyfrom continuous improvement and partnerships to teamwork and global scale.
Balanced scorecard, might conjure up an initial impression of a table of measurements or key performance indicators, it is in fact a process comprising of a number of carefully interlinked steps. An example of university scorecard with specific kpis. All of these are discussed in the cima report a practitioners guide to the balanced scorecard. The balanced scorecard method is a management technique designed to provide a view. The bgcpr offers these young people the hope of a better future. The template here helps you to understand the important terminologies. Balanced scorecard examples download free documents for.
This document is broken into four 4 examples of pdfs with explanations. Browse balanced scorecard templates and examples you can make with smartdraw. Check out 23 examples of real balanced scorecard projects with strategy maps, kpis, business goals, and bi dashboards. A newly formed team develops an implementation plan for the scorecard, including linking the measures to databases and information systems, communicating the balanced scorecard throughout the. To advance institutional performance by building individual, team, and organizational capability. With that in mind, lets dive right in to an example of what a balanced scorecard looks like in practice. Balanced scorecard, example and case study strategic. For example, customer perspective is needed to determine the financial perspective, which in turn can be used to improve the learning and growth perspective. A balanced scorecard bsc is a visual tool used to measure the effectiveness of an activity against the strategic plans of a company. We have assembled documents in the balanced scorecard toolkit, listed below. Develop products suited to customer needs and customer benefit.
Example of balanced scorecard for top management to examine health of business. Example of balanced scorecard this is an example of one type of a balance scorecard. Balanced scorecards are often used during strategic planning to make sure the companys efforts are aligned with overall strategy and vision. Balanced scorecard basics balanced scorecard institute. Introduct on to the balanced scorecard and performance measurement systems. Definition and concept an approach to the provision of information to the management to assist with. The balanced scorecard was developed by two men, robert kaplan, an accounting professor at harvard university, and david norton, a consul tant also from the boston area. Kaplan and norton describe the innovation of the balanced scorecard as follows. The balanced scorecard bsc is a performance measurement and strategic management system which appears suitable for use by all types and sizes of business. Performance measure framework and balanced scorecard example. Balanced scorecard for stateowned enterprises asian.