Balanced scorecard

publication date 21.12.2012

Balanced Scorecard (hereinafter also BSC) is a strategic managerial system that helps convert the company's strategy to grasp (concrete) plans and benchmarks. It helps you adjust the balance between corporate plans. Creates strategic feedback to the success of the strategy implemented. So it is a practical model for measuring business performance.

Method was defined by Robert S. Kaplan and David P. Norton. The problem with most companies is how to ensure that the strategies applied in all activities of the company. Hence, Balanced Scorecard measures the success of the strategy in 4 perspectives:

  • financial
  • customer
  • process
  • learning and growth

How to implement Balanced Scorecard can be found in the description of methods.

Advisor ideas

„Rather than creating piles of documentation, it is better to draw a single scheme or picture.“ more >>

Jiří Střelec Jiří Střelec

And not just ISO, AS, OHSAS, CMMI  … but other standards, too, want us to describe what we do and how we do it. Most quality people and managers just produce pages of text which pile on the desk. Writing down a sentence is fairly easy. However, the sentence alone does not matter. What matters here is that people understand that sentence and use it in practice. Standards do not tell us how to describe our management system, though. Frankly, times are hasty and people have no time for reading piles of paper. They are bombarded by information from all sides. Besides, reading through a long document, they do not remember what was at the beginning. A picture or a scheme is faster to read and easier to remember. What if the system was created as an interactive model of schemes, pictures and supplementary text. Try to make out how.

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