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Chapter

Balanced Scorecard BU481.docx

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Department
Business
Course
BU481
Professor
Karin Schnarr
Semester
Fall

Description
BU481The Balanced Scorecard Measures that Drive PerformanceWeek 1The HighPerformance OrganizationA balanced scorecard is a set of measures that gives top managers a fast but comprehensive view of the business Includes financial measures that tell the results of actions already taken You cannot rely on one aspect of the organization solely The balanced scorecard allows managers to look at the business from four important perspectives financial customer innovation and learning and internal businessProvides answers toHow do customers see usWhat must we excel atCan we continue to improve and create valueHow do we look to shareholdersMinimizes information overload Forces managers to focus on the handful of measures that are most critical Customer Perspective How do Customers see usCustomer concerns tend to fall into four categories time quality performance and servicecostLead time measures time Quality measures the defect level of incoming products as perceived and measured by the customer Companies should articulate goals for time quality and performance and service Translate general goals into condensed specific goals and identify an appropriate measure for each Depending on customers evaluations to define some of a companys performance measures forces that company to view its performance through customers eyes Companies use benchmarking and surveysCompanies must remain sensitive to the cost of their products Internal Business Perspective
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