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2102 Chapter 2

Balance Score Sheet

Balanced Scorecard tool for measuring company performance using four different but linked perspectives that are derived from company mission, vision, and strategy
BSC Provides system for measuring and managing all aspects of company performance
Relationship Between Perspectives cause and effect
Financial Perspective Improving financial performance is ultimate success Objectives: 1.I shareholder Value 2.Improve Cost Structure 3.I Asset Utilization 4.I Existing Customers Value 5. Expand Opportunity
I Shareholder Value Meausres -return on capital employed -economic value added -market to book ratio
Improve Cost Structure Measures -cost/unit compared -cost as % of sales
I Asset Utilization -sales/assets -inventory turnover -% capacity utilization
I Existing Customer Value -% growth of sales -% revenue growth
Expand Opportunity -revenue % from new product and from new customers
Customer Perspective Describes how company intends to attract and maintain customers by offering different products Objectives: 1.Low cost supplier 2.Speedy and easy 3.High performance product 4.First 5.Sell multiple
Low Cost Supplier Measures -compare price
Speedy and Easy Measures -% on time -customer lead time -% perfect orders
High Performance Product Measures -customer innovation -competitive product performance
Be First Meaures number of 1sts
Sell Multiple Measures -# prod./# customers
Process Perspective Identifies processes that contribute to achieving customer and financial objectives OBJECTIVES: 1.Improve cost, quality, cycle time 2.New customers 3.Satisfy and retain 4.Innovative products 5.Improve environment,safety, and health performances
Improve Cost, Quality, Cycle Time Measures -supplier scorecard -cost/unit -defect rate -product cycle time
New Customer Measures -cost/new customer
Satisfy and Retain Measures -time to fix complaints -number of referred customers
Innovative Product Measures -number patents -development time
Improve Environment, Safety, Health Performance Measures -number of environmental incidents -employee diversity index
Learning and Growth Perspective Objectives for people,IT,organizational alignment to achieve process objectives OBJECTIVES 1.develop strategy competencies 2.attract/retain top talent 3.applications to support strategy 4.develop customer data&IS 5.customercentric 6.align goals
Develop Strategy Competencies Measures -% employees with skills
Attract and Retain Top Talent Measures -employee satisfaction -turnover of key personnel
Applications To Support Strategy Measures -%critical processes with adequate IT
Develop Customer Data and IT Measures -availability of customer info
Customer-Centric Culture Measures -employee culture survey
Align Employee Goals to Success Measures -%employee goals linked to success
Share Knowledge About Best Practices Measures -number of new practices shared and adapted
Created by: mfoley