Strategic Planning with the Balanced Scorecard

Summary:

  1. Balanced – think about your organization not as silos but holistically
    1. Financial – how do we look to our shareholders?
    2. Customers – what value do we provide to our customers to achieve our financial goals?
    3. Internal – what internal processes must we excel at in order to deliver value to the customer
    4. People – what skills and abilities must we have in the organization in order to drive the processes
    5. A high level strategy map.
  2. Scorecard – monitors and measures the strategic plan
    1. Goals for the four categories.
    2. Goal Statement
    3. Measurement criteria
    4. Target
      1. Leading Indicators – tells us how were are doing on our way to meeting major target.
      2. Lag Indicator – has already happend (i.e. survey)
  3. Dashboard – visual representation of the scorecard measurements

 

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