Difference between revisions of "Create a Balanced Scorecard"
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The format of a balanced scorecard can vary, depending on the data, the company and the industry. Some organizations use a spreadsheet, or it can be outlined in paragraphs in a word processing document. Some companies and consultants can design special software and databases for the purpose of a balanced scorecard. Companies and organizations are using balanced scorecards during periods of strategic planning and organizational change. They are used to evaluate the performance of the company, and assess what opportunities and challenges need to be addressed when outlining goals and objectives for the future. Robert Kaplan and David Norton first introduced the concept in 1992 in a Harvard Business Review Article. Create a balanced scorecard to improve performance and motivate teams responsible for an organization's success. | The format of a balanced scorecard can vary, depending on the data, the company and the industry. Some organizations use a spreadsheet, or it can be outlined in paragraphs in a word processing document. Some companies and consultants can design special software and databases for the purpose of a balanced scorecard. Companies and organizations are using balanced scorecards during periods of strategic planning and organizational change. They are used to evaluate the performance of the company, and assess what opportunities and challenges need to be addressed when outlining goals and objectives for the future. Robert Kaplan and David Norton first introduced the concept in 1992 in a Harvard Business Review Article. Create a balanced scorecard to improve performance and motivate teams responsible for an organization's success. | ||
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== Steps == | == Steps == | ||
#Assess the mission and culture of the group. Include consideration of the organization's challenges, vision, and partners. Identify the components of the change management plan that will need to be communicated with the organization and other key stakeholders. | #Assess the mission and culture of the group. Include consideration of the organization's challenges, vision, and partners. Identify the components of the change management plan that will need to be communicated with the organization and other key stakeholders. | ||
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#Adjust the balanced scorecard as needed. The scorecard and the process should be kept flexible so that changes can be incorporated as strengths and weaknesses are identified. | #Adjust the balanced scorecard as needed. The scorecard and the process should be kept flexible so that changes can be incorporated as strengths and weaknesses are identified. | ||
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== Tips == | == Tips == | ||
