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What’s the best way to align your entire organization behind a very focused strategy? Create a Balanced Scorecard (BSC), one of the most popular management tools ever introduced. It can also be one of the most productive tools if it’s understood and used properly by management teams. I help government agencies and companies of all sizes in all types of industries develop Balanced Scorecards. I have most likely developed more scorecards for more companies across more industries than anyone over the years and I have found that it’s important to know the key features of a Balanced Scorecard to be [...]

Balanced Scorecard Software is used by a wide variety of businesses and industries including defence, biotechnology, retail, charities and the public sector. Balanced Scorecard Software is used across the board from governmental bodies and the Royal Air Force to blue chip companies such as Barclays bank and medium-sized firms and charities. Balanced Scorecard Software is invaluable. The origin of the balanced scorecard dates back to just 15 years ago when Robert S Kaplan and David P Norton wrote about the idea of measuring performance in the Harvard Business Review. What the two academics wrote has been adopted and utilised in [...]

Balanced scorecard software offers a new way of looking at your business that will transform how that business works, helping you achieve your corporate goals. Everybody is aware of the role of consultants whose job is to parachute into organisations and help improve performance or solve internal hitches. But there is a simpler, more cost effective and accessible way to monitor your business using balanced scorecard software. Balanced scorecard software - The Basics The Balanced Scorecard was developed as a framework to measure performance and to highlight the leading and lagging indicators in a business. What made this model different [...]

More organisations then ever before are accountable for their performance with the emphasis on delivering measurable results, which is why hospitals, the army and the police force are just a few of the organisations using balanced scorecard software. There are hundreds of Balanced Scorecard Software packages available, which is why it's important to opt for specialised and expert advice on the use, selection and implementation of these packages. There's no doubt that the role of balanced scorecard software is a crucial one for many organisations that are required to demonstrate transparent results. And there is certainly no shortage of companies [...]

Over recent years the Balanced Scorecard (BSC) has evolved into one of the most popular strategic management tools. The BSC was developed by Robert Kaplan and David Norton in the early 1990s and initially positioned as a strategic performance measurement innovation to counteract the prevalent financial bias in existing performance measurement systems. The initial idea of the Balanced Scorecard The initial idea of the Balanced Scorecard was that financial measures are lag indicators, which when used in isolation, could lead to short-term thinking. To promote the long-term value creation it was suggested that the financial perspective of performance should be [...]

Some tips for managers on using a balanced scorecard as a management tool. The success of balanced scorecard theory throughout the business world can in large part be attributed to its potential as a leadership tool. Used to its best effect can have a powerful impact on any size of organisation - and here's some tips on how to use it. Managers who see it as a 'quick fix' will be disappointed - the balanced scorecard needs to be planned carefully, used wisely and developed as part of a larger sea change in your organisational strategy. The balanced scorecard and [...]

A look at the concept, theory and use of the balanced scorecard and the 'dashboard'. The balanced scorecard has grown in popularity over the last fifteen years and is now used by thousands of organisations around the world. Millions of people are familiar with its concepts and terms - especially its 'traffic lights' and 'dashboard' analogies. But for the unfamiliar, here is a brief summary of what the balanced scorecard involves. Kaplan and Norton, the founders of the balanced scorecard, used the analogy of the dashboard of an aircraft's cockpit to compare the concept of a balanced scorecard to traditional [...]

Here we provide a brief overview and introduction to the balanced scorecard concept. Overview of the Balanced ScorecardThe Balanced Scorecard (BSC) is a strategic performance management framework that allows organisations to identify, manage and measure its strategic objectives. The concept was initially introduced by Robert Kaplan and David Norton in a Harvard Business Review Article in 1992 and has since then been voted as one of the most influential business ideas of the past 75 years.Like most good ideas, the concept of the Balanced Scorecard is very simple. Kaplan and Norton identified four generic perspectives that cover the main strategic [...]

Public Sector and Not-for-Profit Balanced ScorecardWhile the Balanced Scorecard has been designed for commercial companies, the framework has found wide-spread use in the public and not-for-profit sector. The Advanced Performance Institutes has worked with many government and not-for-profit organisations to implement performance management frameworks. The challenge is how to apply the commercial company focused template of the Balanced Scorecard in public sector and not-for-profit organisations. Here are the key changes to the Balanced Scorecard template in order to make it relevant to those organisations: Move the Financial Perspective of the Balanced Scorecard to the bottom of the template. The overall [...]

What are the Benefits of using Balanced Scorecards? Research has shown that organisations which use a Balanced Scorecard approach tend to outperform organisations without a formal approach to performance management. The key benefits of using a Balanced Scorecard include: Better Strategic Planning- The Balanced Scorecard provides a powerful framework for building and communicating strategy. The business model is visualised in Strategy Maps which forces managers to think about cause-and-effect relationships. The process of creating a Strategy Map ensures consensus is reached over a set of interrelated strategic objectives. This means that both performance outcomes as well as key enablers of [...]