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Quote of the Day

Effective leadership is putting first things first. Effective management is discipline, carrying it out.

Stephen Covey

Balanced Scorecard

Concept Briefing:

Balanced Scorecard - BSC is a method for measuring a company's activities in terms of its vision and strategies. Balanced scorecard gives managers a comprehensive view of the performance of a business by measuring a business not only from a financial perspective but from a more-balanced multi-perspectives as below:
  • Financial perspective - measures reflecting financial performance, for example number of debtors, cash flow or return on investment. The financial performance of an organization is fundamental to its success. Even non-profit organizations must make the books balance. Financial figures suffer from two major drawbacks: They are historical and intangible assets are not measured by normal financial reporting.
  • Customer perspective - measures having a direct impact on customers, for example time taken to process a phone call, results of customer surveys, number of complaints or competitive rankings.
  • Business process perspective - measures reflecting the performance of key business processes, for example the time spent prospecting, number of units that required rework or process cost.
  • Learning and growth perspective - measures describing the companies learning curve, for example number of employee

    21 Jan 2007 09:53:03

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