This is an example of a password-protected course. To access this course please use this password: @123qwert
The Balanced Scorecard (BSC) is a strategic management tool developed in 1992 by Robert Kaplan and David Norton who introduced the concept in a Harvard Business Review article. Since its publication many variations of the scorecard exist and are used extensively in private industry and the public sector. The balanced scorecard is a system that is designed to manage and measure strategic initiatives by tying business performance to organizational strategy.
The Scorecard measures performance in four areas known as perspectives:
- Financial performance
- Customer knowledge
- Internal business processes
- Learning and growth
The BSC is designed to allow businesses to create and implement goals and initiatives that align employee objectives with the company’s strategic goals. This provides managers with the tools they need so that employees can focus on activities that support the company’s goals.
The scorecard may be used at all levels of the organization including individual performance management. Managers that use the BSC approach for performance management work with employees to set goals using the four areas aligning individual goals with team, department and organization goals. Because employees are evaluated on an ongoing basis under the BSC approach instead of just once a year, managers are able to quickly pinpoint the areas where an employee is under performing to provide specific coaching. Employees are also able to follow their performance towards the goals they set and see how their goal achievement contributes to organizational success.
Balanced Scorecard Training explains all about BSC, it's four perspectives and how to implement the approach at the workplace. Balanced scorecard training is designed for supervisors or managers who are new to using this for employee performance or who need a refresher on its various elements.
This manager training was developed using information from the Balanced Scorecard Institute and articles written by Robert Kaplan and David Norton published in the Harvard Business Review.
This is an example of a password-protected course. To access this course please use this password: @123qwert
The Balanced Scorecard (BSC) is a strategic management tool developed in 1992 by Robert Kaplan and David Norton who introduced the concept in a Harvard Business Review article. Since its publication many variations of the scorecard exist and are used extensively in private industry and the public sector. The balanced scorecard is a system that is designed to manage and measure strategic initiatives by tying business performance to organizational strategy.
The Scorecard measures performance in four areas known as perspectives:
- Financial performance
- Customer knowledge
- Internal business processes
- Learning and growth
The BSC is designed to allow businesses to create and implement goals and initiatives that align employee objectives with the company’s strategic goals. This provides managers with the tools they need so that employees can focus on activities that support the company’s goals.
The scorecard may be used at all levels of the organization including individual performance management. Managers that use the BSC approach for performance management work with employees to set goals using the four areas aligning individual goals with team, department and organization goals. Because employees are evaluated on an ongoing basis under the BSC approach instead of just once a year, managers are able to quickly pinpoint the areas where an employee is under performing to provide specific coaching. Employees are also able to follow their performance towards the goals they set and see how their goal achievement contributes to organizational success.
Balanced Scorecard Training explains all about BSC, it's four perspectives and how to implement the approach at the workplace. Balanced scorecard training is designed for supervisors or managers who are new to using this for employee performance or who need a refresher on its various elements.
This manager training was developed using information from the Balanced Scorecard Institute and articles written by Robert Kaplan and David Norton published in the Harvard Business Review.
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