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Transforming business with Balanced Scorecard
Balanced Scorecard Category
The Balanced Scorecard And The Financial Perspective
One of the biggest strengths of The Balanced Scorecard over other business performance measurements tools is that it looks at so much more than just profit and loss. I often use the analogy that when you are driving a car, you don’t just use the view ahead of you to assess whether you’re driving correctly…
Enact Your Business Plan with the Balanced Scorecard
If you want to compete in an evolving marketplace, then you will of course know the importance of having a solid business plan. In a previous article from February, Business Planning – revisit your business plan, we focused on how essential it is to make sure your business plan evolves if you are to keep…
The Balanced Scorecard – Your Customer Perspective
The customer perspective of the Balanced Scorecard is arguably the most important part of the approach – after all, without customers your business would not be making a profit! When Kaplan and Norton were looking at what factors affected a customer’s decision to use and return to a business, they found three that were fundamental:…
How Does The Balanced Scorecard Approach Set Your Business Up For Sustainable Change?
Back in February 2011 I published a post outlining the features of the Balanced Scorecard approach that facilitate sustainable change in a business. This new post will explain in more detail exactly how the Balanced Scorecard sets your business or organisation up perfectly for sustainable change. First and foremost, the Balanced Scorecard is an all-encompassing…
How The Balanced Scorecard Approach Can Support Your Company In A Period Of Growth
The Balanced Scorecard approach to business performance measurement is widely renowned as one of the most all-encompassing and effective in its field. Not only does it look at financial success to conclude what is effective within an organisation, but it considers three more perspectives as well; Customer, Learning and Growth and Internal Business. When in…
How The Balanced Scorecard Can Help Small Businesses
Many people assume that the Balanced Scorecard is only applicable for large organisations with large numbers of staff and a variety of departments that need to be measured under one company. However, there are several ways in which the Balanced Scorecard can be very beneficial for small companies – and it can actually be an…
Preparing Your Business For The Learning & Growth Perspective
The aspect of the Balanced Scorecard that often gets overlooked is the Learning & Growth perspective. It is so easy to leave growing your business or expanding your knowledge until last, or just put it off another day. But, eventually the day will come where your competitors have kept on top of their learning and…
Reviewing your business with Balanced Scorecard
One of the great things about the Balanced Scorecard is how effective a tool it is for regular business reviews. How often have you sat in management team meetings in which a broad range of topics are discussed, but very little is decided upon and even fewer actions are forthcoming? Alternatively, you may have sat…
Balanced Scorecard applied to Services Providers
Your journey to Operational Excellence starts with the DRIVE concept. In this example we will explore the use of the Balanced Scorecard in an organisation that provides services, either ‘business to business’ (B2B) or ‘business to consumer’ (B2C). What’s important in either option – indeed in many applications of the scorecard – is that the…
The role of leadership in using Balanced Scorecard
There is a simple rule for those considering the role of leadership in using a scorecard: “Exceptional Management managing by exception.” So what exactly does that mean? Before we consider the best approach to leadership using a scorecard, let’s first consider the more traditional approach and picture a board meeting in a simple SME. The…
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