8 replies to this topic

[sebastian]

Hi Friends,

The Balanced Scorecard deals with effective business performance measurement and implementing strategic planning. I come across balanced scorecard software which I would like to share with you.

http://www.axsellit....dscorecard.html

This business strategy planning or objective is mapped into performance metrics in four perspectives: customer, financial, internal processes, learning and growth. The business performance is measured based on the above perspective. The balance scorecard is one of the best key business performance measuring concepts. Explore and enjoy :)


sebastian

[Franco]

Explore and enjoy :)

Hi Sebastian,
sounds good "Explore and enjoy"

[Simon]

Hi Sebastian,

Wow! You must have read my mind, this is exactly what I've been looking for. Hold on a second while I find my credit card.

Sebastian, why don't you tell us a little more about the Balanced Scorecard approach.

What is it?
Who developed it?
How does it work?
What makes it different / better than other approaches?
What are the benefits?

Not the software the Balanced Scorecard methodology.

Regards,
Simon

[Jim Wade]

This overview might help a bit, Simon...

http://www.bin.co.uk/BSC_overview.doc

rgds Jim

[Simon]

It does thanks Jim. Is the software any good?

Regards,
Simon

[sebastian]

Simon,

I understand your sceptisism, but the Balanced Scorecard approach is a well documented management approach developed by a group of people from Fortune 500 companies under the guidance of Dr. Robert S. Kaplan, the Arthur Lowes Dickinson Professor of Accounting at the Harvard Business School.

The idea is to create metrics that will give you a holistic view of your company and that are linked to your strategy. It will make sure you measure financials (as you still do need the money :-), but also keep an eye on how your customers perceive you, the internal processes that are critical to your success and the knowledge and resources needed to sustain your business model.

It is human (or organisational) psychology that what is being measured by the company gains importance and focus. That's the whole idea of performance measurement. What is important about the Balanced Scorecard approach is the way you decide what to measure and the above mentioned holistic view. I hope you agree on that. :D

The Balanced Scorecard has been kind of "reserved" for the big corporations due to the silly pricing of the software needed to create a good scorecard. My exitement was simply due to the fact that I found a solution that works and doesn't set me back $100,000 as my budget would no way allow that. :P

So grab your card, Simon!

Sebastian

[Simon]

Thanks for the useful overview Sebastian. I knew a little about BS (unfortunate acronym :) ), but haven't used it. Do you have an example balanced scorecard you can post so that we may discuss further?

By the way are you involved with the software?

Regards,
Simon

[sebastian]

Hi Simon,

As i said before in balanced scorecard the business strategy planning or objective is mapped into performance metrics in four perspectives: customer, financial, internal processes, learning and growth. The business performance is based on the above metrices. Here is the Balance scorecard example

Balanced Scorecard example.

take care, bye

Sebastian

[Simon]

It's a lot easier to comprehend with an example. Thanks for the link.

Regards,
Simon