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Balanced Scorecard Actual, High Performance Example and Template ? Introducing a Highly Versatile Business Planning Tool
A Balanced Scorecard is a business planning/ strategy planning and performance management tool. In simple terms, it is an organised way of identifying what is important to a business then monitoring and managing how the business is progressing against these priorities ? in essence a simple and highly effective business planning tool. It works on a principle of what you measure is what you receive, and it applies objectives and measures to support you and your business on the identification and management of what is important to success.
It can be helpful to think of a Balanced Scorecard as the dashboard of your car, indeed the term ?dashboard' is often used to describe the main Scorecard visual diagram itself. On a car, the dashboard displays what you need to know to drive the car effectively including speed, fuel, tyre pressure etc. The Balanced Scorecard provides the ?dashboard' to do something similar for your business. Instead of speed, fuel and so on a Balanced Scorecard supports a business in measuring and managing what is important to the running of the business. Commonly these are the four areas below, but these can be adjusted to give you the ?dials' for your business: 1. Customers and customer relationships. 2. Financial. 3. Internal processes. 4. Learning and growth (including people).
If that sounds complicated, it really doesn't need to be at all and this actual ?living' example of a Balanced Scorecard can be used as a template for your business. You can learn from it, adapt it and easily develop it for your business. The example also includes a mid-year assessment, which shows you how to use the Scorecard as an active tool and these is also a blank template in case you want to us the example for inspiration and develop your Balanced Scorecard from scratch ? the choice is yours. Overall this is a simple and powerful tool, capable of guiding you and your business to produce a highly effective Balanced Scorecard.
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Source: Best Practices in Balanced Scorecard Word: Balanced Scorecard: Actual Example, Template & Simple Steps Word (DOCX) Document, Navigate Change Consulting
ABOUT THE AUTHOR: NAVIGATE CHANGE CONSULTING
Supporting organizations and people to develop, succeed and grow.
Navigate Change Consulting has published 45 additional documents on Flevy.
This business document is categorized under the function(s): Strategy, Marketing, & Sales
It applies to All Industries
File Size: 306.4 KB
Number of Pages: 12
Related Topic(s): Balanced Scorecard
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Initial upload date (first version): Jun 10, 2021
Most recent version published: Jun 14, 2021
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