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DOCUMENT DESCRIPTION

Effectively developing and communicating high-level business strategy is essential for organizations looking to achieve market leadership. Additionally, creating a results-oriented culture requires a comprehensive management system. You can use this Balanced Scorecard Strategy Map tool as a basis for implementing a proven business performance management methodology.

What is the Balanced Scorecard Approach?
Developed in 1992 by Kaplan & Norton, the Balanced Scorecard provides: a method for aligning business strategy with vision & mission; a system for developing key performance indicators that drive success; and the ability to measure performance across the four key perspectives:
• Financial
• Customer
• Business Process
• Learning & Growth

A visual strategy map is created where strategic objectives, measures, targets, and initiatives are developed for each perspective.

Strategy Map Components:
• Mission - this is the purpose of the business used to guide internal staff.
• Vision - includes long-term goals that are external and market focused.
• Financial Perspective - measures that reflect financial performance such as return on assets, liquidity ratios, or return on investment/payback period hurdle rates.
• Customer Perspective - measures that have a direct impact on customers such as segment growth, acquisition & retention rates, satisfaction, or competitive rankings.
• Business Process Perspective - these metrics are key performance indicators of key business processes related to sustaining supplier relationships, producing products/services, distribution to customers, and other business operations.
• Learning & Growth Perspective - measurements associated with the ability to develop human, information, and organization capital.

With this tool, you will be able to communicate to your team from a number of perspectives.

Key Benefits:
• Allows for description of key objectives
• Clearly depicts metrics & KPIs
• Facilitates communication with team
• Easy to customize
• Save 4 hours on formatting

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Source: Balanced Scorecard Strategy Map Excel document

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This business document is categorized under the function(s):

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File Type: Excel (xls)

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Related Topic(s): Balanced Scorecard

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Initial upload date (first version): Jul 24, 2013

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