Balanced Scorecard

The balanced scorecard concept is relatively new on the business scene, but is rapidly gaining in popularity as a method of implementing and tracking business strategy.   Stripped down to its essence the balanced scorecard is the analysis of the cause and effect of business processes needed to successfully implement business strategy, with built-in measurements to track progress.  Where the balanced scorecard has gone beyond past implementation processes is the emphasis on factors other than the financial, hence the term "balanced."  As such there is more emphasis on leading indicators of future performance along with the tracking of past performance, which are often stated in financial terms.

Balanced Scorecard Framework

• Financial objectives and measurements
• Customer orientation
• Internal Processes
• Learning and capability growth

Drill Down Process in establishing cause & effect linkages that drive performance

• Vision - what is the overall vision embodied within the plan?
• Objective
• Strategy
• Measure

Value Chain Analysis - business components reviewed during drill down analysis

• Understand the Customer
• Define the Offering
• Manage the Offering
• Channel Management
• Identify & Obtain Locations
• Develop Marketing Facility
• Operate
• Exit Strategy

 [ More information within Marketing Strategy ]

Additional resources for information on Balanced Scorecards

• Establishing Balanced Scorecards - American Productivity & Quality Center (APQC)
• Balanced Scorecard Resource Centre - 2GC Active Management
• Balanced Scorecard Collaborative

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Last modified: August 22, 2005