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Transcript of Balanced Scorecard
Robert Kaplan and David Norton, 1992
Utilized by wide spectrum of businesses
Introduction to the BSC
Evolution of Balanced Scorecard
BSC in High- and Low-Tech Companies
Fortune 1000 firms
Two Success Stories
Quality of BSC: Individual vs. Group
Early Performance Measure
Later BSC used to:
Create strategic map
Implement corporate synergies
Study of Small/Medium sized business
Awareness of environmental and social aspects
Effect of initiatives - economically
Carry out initiatives in economical crisis
Role model for other companies
Integrating into 4 existing perspectives
Specific scorecard can be formulated
Add fifth perspective
Performance measurement of SCM
Balanced SCM scorecard- day-to-day operations
Financial and operational measures
Compromising other areas - decide on strategy
3 mid-size or small companies in India
Lack of cause-and-effect relationships
Failure to include long-term goals
Lack of communication
A Balanced Approach
1. Financial and non-financial indicators of success
2. Internal and external constituents of the organization
3. Lag and lead indicators of performance
Do high- and low-tech firms use BSC?
SP, IPP, SCM, OM, QC, R&D
High-tech vs. low-tech firms
How do groups use individual BSCs to develop a group BSC?