Download - Balanced score card 2
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ByNaveed M. Khan
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INTRODUCTIONIn 1992, Robert S. Kaplan and David Norton
introduced the balanced scorecard, a concept for measuring a company's activities in terms of its vision and strategies, to give managers a comprehensive view of the performance of a business
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Key Element The key new element is focusing not only on
financial outcomes but also on the human issues that drive those outcomes, so that organizations focus on the future and act in their long-term best interest
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BALANCE SCORE CARD
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FinancialsAccording to each perspective of the
balanced scorecard there are a number of KPIs.
* Financial o Cash flow o ROI o Financial Result o Return on capital employed o Return on equity
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Customer* Customer Delivery Performance to Customer - by
Date Delivery Performance to Customer - by
Quantity Customer satisfaction rate Customer retention
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Internal Business Processes
Number of Activities Supply Chain Management Operational Efficiency
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Learning & Growth
Investment on Employee’s Training Growth within the company Research and Innovation
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Cause and Effect Relationship
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Cause and Effect Relationship
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Performance Drivers A good balance score card also have a mix of
outcome measures and performance drivers Companies with greatly improved
performances must identify how to increase sales to existing customers
Example of TCP The four perspective should be considered
template not a straight jacket
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Balanced Score Card of TESCO
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Customer
Earn lifetime loyaltyThe aisles are clearI can get what I wantThe prices are goodI don’t want to queueThe staff are great
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Finance Grow sales
Maximize profits
Manage our investment
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Operations Shopping is better for customersWork is simpler for staffThe way we operate is cheaper for TescoThe way we operate is responsible and safe
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People/ Learning & Growth We trust and respect each other
My manager supports me to do a good job
My job is interesting I have the opportunity to