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Post Category: ‘Balanced scorecard design’

The one test of a useful Balanced Scorecard

In my role as a Strategy and Performance Consultant, I see a lots of ‘balanced scorecards’.  In over 20 years, from my early days working for Norton &  Kaplan I have seen most variations and alternatives. I have a set of tests for the balanced scorecard I see.  A set of tests that tell me a lot about how they …

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The Balanced Scorecard and Strategic Goals

A recent LinkedIn question was from a strategy manager wanting to use a ‘strategic goal’ but unsure how this fitted into the Norton & Kaplan Balanced Scorecard framework. One respondent used a good deal of words explaining that the approach does not use the phrase and it was meaningless in the approach.  He should use other language, more suited to …

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Does the Balanced Scorecard need to consider financial capital in the Learning & Growth perspective?

The question A recent question on a Linkedin forum was, “Does the BSC need to explicitly consider the financial capital in learning and growth perspective? ”  The questioner followed up with  “Commercial organizations need funds such as equity and debt on an ongoing basis for continued operations and growth. But the learning and growth perspective of BSC does not consider …

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Whose Balanced Scorecard is it?

Working with a management team the other day, they showed me their recently created “Balanced Scorecard”. As is fairly common it was simply an excel spreadsheet showing a collection of measures, without any actions, projects, objectives or ownership. They had of course categorised them into perspectives, but in true “not invented here” fashion they had decided to call them “domains”. …

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Public Sector Strategy map and balanced scorecard: doing it properly

Let me ask you three questions about your Public Sector balanced scorecard: 1) What categories of measures are you using on your scorecard?  Do they describe how change will occur? 2) Do you represent the multiple strategies that you are implementing, for instance cost reduction through policy decisions, simplifying operations and also perhaps preventative measures? 3) Do you accurately represent …

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Ten important Balanced Scorecard design principles

Balanced Scorecard Principles: Keys to success Here are ten Underlying principles for Effective Strategic Management and Performance Management using a Balanced Scorecard based management approach 1. If you don’t know where you want to go, you are unlikely to get there. 2. Be absolutely clear what you are using your scorecard for. 3. It is about cause and effect. 4. It is about …

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The development of the Balanced Scorecard Approach – lets have historical accuracy please

In a linked in posting someone posted a suggested development time line for the Balanced Scorecard approach.  In summary they said (the piece in italics): Performance measurement tool (1992) Performance management system (1996) Strategic management and control system (2000) Strategy Maps and Office of Strategic Management (2004/5) The transition from the management accounting school to the strategy management school is …

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Strategy roll-out:Which part of the balanced scorecard elephant to eat first

A client recently asked an important question.  They are in the middle of strategy development and planning.  They want to move to more useful measures and a better grip on the organisation.  They are considering a strategic balanced scorecard approach.  There is so much they could do they don’t want to be scared off, get indigestion or bite off more …

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Should you use a Balanced Scorecard for Strategic Planning?

You might be wondering whether you should use a Balanced Scorecard for strategic planning process.  Here is my response to that very question.  Don’t use “a balanced scorecard”: use “The Balanced Scorecard Approach”. The Balanced Scorecard approach is an effective, systematic approach to capturing strategy  (Strategy maps), Planning (the alignment between strategy maps and scorecards) and for communicating and managing …

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What is a Balanced Scorecard, when everything gets called a balanced scorecard?

The problem when Everything gets called a balanced scorecard Mistakes to avoid: When every performance measurement approach is a “Balanced Scorecard” and every collection of measures is a “scorecard”, it creates a real problem with the language of performance.  The phrase has acquired such a broad meaning that distinctions in the quality of different approaches have been lost.  It clouds …

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