The balanced scorecard: Mapping your organisation

The balanced scorecard combines a range of key performance indicators that may be financial/non-financial and lead/lag to give a balanced view of an organization's performance. A common approach for consultants and managers who apply the balanced scorecard in small and medium sized enterprises...

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Bibliographic Details
Published inCA Charter Vol. 71; no. 5; p. 62
Main Author Sharma, Rob
Format Trade Publication Article
LanguageEnglish
Published Sydney Institute of Chartered Accountants in Australia 01.06.2000
Subjects
Advantages
Alliances
Balanced Scorecard
Business metrics
Commercial banks
Employees
Feedback
Food
Market shares
Mission statements
Performance evaluation
Performance management
Stockholders
Australia
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Summary:The balanced scorecard combines a range of key performance indicators that may be financial/non-financial and lead/lag to give a balanced view of an organization's performance. A common approach for consultants and managers who apply the balanced scorecard in small and medium sized enterprises is first to focus on key result areas and key performance indicators and then fit the indicators to the financial, customer, internal business process, and learning and growth aspects of the scorecard. However, this approach may lead to lack of alignment between the scorecard and the overall business strategy as there may be one or more aspects of the strategy not incorporated as a specific organizational goal within the scorecard. The 4 stages for implementing a scorecard in a large organization are: 1. formation of a top management working group, 2. development of a set of reliable measures, 3. implementation with a multi-skilled project team, and 4. review, communication and feedback on the implemented scorecard.