HRM PROJECT
The best tool to translate, align, and manage the strategy of your Business.
It is a framework that converts strategies into an integrated system defined across four business perspectives:
- Financial
- Customers
- Internal Processes
- Learning & Growth
What is the Balanced Scorecard:
- Balances financial and non-financial measures
- Balances short and long-term measures
- Balances performance drivers (leading indicators) with outcome measures (lagging indicators)
- Should contain just enough data to give a complete picture of organizational performance… and no more!
- Leads to strategic focus and organizational alignment.
Why do it?
- To achieve strategic objectives.
- To provide quality with fewer resources.
- To eliminate non-value added efforts.
- To align customer priorities and expectations with the customer.
- To track progress.
- To evaluate process changes.
- To continually improve.
- To increase accountability.
Benefits of Balanced Scorecard
- Gives more understanding of your customers and best defines what is value for them
- Focuses at strategic results and to strategies
- Associates companies vision, Strategies, Procedures,
- Develop a system of responsibility of personnel and ownership of jobs
- Defines critical measure performance and strategic initiatives
- Evaluate strategic results