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Balanced Scorecard

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Balanced Scorecard

The Balanced Scorecard (Kaplan and Norton) has emerged as the tool of choice for organisations wishing to successfully implement strategy (see our discussion paper Building a Balanced Scorecard). It translates your strategy into performance objective and measures in four balanced perspectives: Customer, Internal Processes, Employee Learning and Growth, and Financial. This integrated collection of objectives and performance measures describes and translates your strategy allowing you to look to where you’re going, not just where you’ve been.

It enables you to effectively:

Map your strategy to specific operational goals and objectives.
Communicate your strategy throughout your company.
Link your operational goals and objectives with each employees function.
Utilise key performance indicators to assess and manage the results of your business strategy.

The Balanced Scorecard helps managers articulate the strategic destination and road map for their organisation, and monitor the activities required for their achievement. The purpose therefore shifts from tracking performance of a process and monitoring whether or not objectives have been set to determining which of the planned actions to achieve the objectives are working. Management teams can use the Scorecard to support decision making to ensure that their strategic goals are successfully achieved.

Whether we help you get started, support implementation or guide you to getting your heads around putting the right measures in place – we can enable your business develop a world-class Balanced Scorecard system.

To find out more contact us on info@tealconsulting.co.uk