18 terms

Balanced Scorecard

STUDY
PLAY
Balanced Scorecard
A method of evaluating a firm's performance using performance measures
Customer perspective
Internal business perspective
Innovation and learning perspective
Financial perspective
Four perspectives of the balanced scorecard
Customer perspective
Measures of firm performance that indicates how well firms are satisfying customers' expectations
Customer perspective
How do customers see us?
Time
Quality
Performance and service
Cost
Four categories of customer concerns
Internal business perspective
Measures of firm performance that indicate how well firms' internal processes, decisions and actions are contributing to customer satisfaction
Internal business perspective
What must we excel at?
Cycle time
Quality
Employee skills
Productivity
Four factors of customer satisfaction
Innovation and learning perspective
Measures of firm performance that indicate how well firms are changing their product and service offerings to adapt to changes in the internal and external environments
Innovation and learning perspective
Can we continue to improve and create value?
Human capital
Information capital
Organization capital
Three categories of intangible assets
Skills
Talent
Knowledge
Three parts of human capital
Information systems
Networks
Two parts of information capital
Culture
Leadership
Two parts of organization capital
Financial perspective
Measures of firms' financial performance that indicate how well strategy, implementation and execution are contributing bottom line improvement
Financial perspective
How do we look at shareholders?
Profitability
Growth
Shareholder value
Three goals of financial perspective
Lack of a clear strategy
Ineffective executive sponsorship
Not a quick fix
Hard to sustain
Inconsistent terminology
Limitations of the balanced scorecard
YOU MIGHT ALSO LIKE...