Creating The Financial Scorecard

Balanced scorecards can give your business a tremendous advantage, if done right. However, if done wrong, they can create tremendous undo stress and anxiety, which will not add value nor help you to accomplish your goals. Which way will you choose to do them Here's the way to do it right. Select either a strategic, operational, or tactical level It get where you want to go, you've got to start at the right point. In other words, you first have to decide where you are in the organization. For...

Drafting the strategy map

If you've done your strategy homework see the previous section , you should be ready to develop your strategy map. The strategy map in Figure 2-3 gives you a good idea of what the end result may be. Your strategy map will undoubtedly be more complex than this example. To create a strategy map, follow these basic steps 1. Gather and analyze the necessary information Market studies, industry reviews, SWOT Strengths, Weaknesses, Opportunities, and Threats analysis, financial statements, etc. 2....

Analyzing Your Customers Critical

Each of the four legs have equal importance in your Balanced Scorecard after all, if they didn't have equal importance, they wouldn't be balanced , but your customers are your reason for being, your raison d'etre. Without them, you'd have to close your business's doors and go home to stare at the television all day long. Yet, as important as they are to you, customers often get lost in the swirl of the many everyday tasks you accomplish in your business. You may lose sight of who you do all...

Leaning on the four legs of the scorecard

Your Balanced Scorecard Strategy relies upon four different yet integrated perspectives The Customer Leg, the Financial Leg, the Internal Business Process Leg, and the Knowledge, Education, and Growth Leg. These four legs of the Balanced Scorecard are necessary for today's business executives and managers to be able to plan, implement and achieve their business strategies. The four legs will make the difference between whether your business succeeds or fails. The following list takes a closer...

Table of Contents

About This Conventions Used in This What You're Not to Foolish How This Book Is Part I The ABC's of Balanced Part II The Customer The Critical Part III Financial Measurement The Foundation Leg 4 Part IV Internal Business Processes The Value Creation Leg 4 Part V Knowledge, Education, and Growth the Learning Leg 4 Part VI The Part of Icons Used in This Where to Go from Part 1 The ABC's of Balanced Scorecard 7 Chapter 1 Goals, Scores, and the Balanced Scorecard 9 Getting Familiar with Balanced...