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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:
• 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.
• Allows for description of key objectives
• Clearly depicts metrics & KPIs
• Facilitates communication with team
• Easy to customize
• Save 4 hours on formatting
Got a question about the product? Email us at [email protected] or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.
Source: Best Practices in Balanced Scorecard Excel: Balanced Scorecard Strategy Map Excel (XLS) Spreadsheet, Demand Metric
ABOUT THE AUTHOR: DEMAND METRIC
Demand Metric is a global marketing research & advisory firm. We specialize in Corporate Marketing tools and templates, mostly built in MS Excel.
Demand Metric has published 25 additional documents on Flevy.
This business document is categorized under the function(s): Operations Strategy, Marketing, & Sales
It applies to All Industries
File Size: 53.5 KB
Related Topic(s): Balanced Scorecard
Purchase includes lifetime product updates. After your purchase, you will receive an email to download this document.
Initial upload date (first version): Jul 24, 2013
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