please let me know about balance score card,hr score card and also any other latest performance appraisals
From India, Hyderabad
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From India, Hyderabad
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Balanced Scorecard
A new approach to strategic management was developed in the early 1990s by Drs. Robert Kaplan (Harvard Business School) and David Norton. They named this system the 'balanced scorecard'. Recognizing some of the weaknesses and vagueness of previous management approaches, the balanced scorecard approach provides a clear prescription as to what companies should measure in order to 'balance' the financial perspective.
The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise.
Kaplan and Norton describe the innovation of the balanced scorecard as follows:
"The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation."
The balanced scorecard suggests that we view the organization from four perspectives, and to develop metrics, collect data and analyze it relative to each of these perspectives:
- The Learning and Growth Perspective
- The Business Process Perspective
- The Customer Perspective
- The Financial Perspective
From China
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9A new approach to strategic management was developed in the early 1990s by Drs. Robert Kaplan (Harvard Business School) and David Norton. They named this system the 'balanced scorecard'. Recognizing some of the weaknesses and vagueness of previous management approaches, the balanced scorecard approach provides a clear prescription as to what companies should measure in order to 'balance' the financial perspective.
The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise.
Kaplan and Norton describe the innovation of the balanced scorecard as follows:
"The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation."
The balanced scorecard suggests that we view the organization from four perspectives, and to develop metrics, collect data and analyze it relative to each of these perspectives:
- The Learning and Growth Perspective
- The Business Process Perspective
- The Customer Perspective
- The Financial Perspective
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HR Scorecard The HR scorecard is a method for Human Resources to position itself as a strategic planning partner with line managers and executives in the organization.
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Balanced (business, corporate) Scorecard is:
- At the top of the performance measurement system, designed to measure the degree of success in implementing a business strategy, and designed to have a broad range of performance measures that better reflect all things an organization needs to be successful. It generally has three or more categories or perspectives of performance measures. Norton and Kaplan use financial, internal, customer, growth, and learning categories.
Many organizations use:
- Baldrige Award
- ISO 9001
- Tableau de Bord
The most commonly used categories are:
- Finance
- Customer
- Organizational
- Operational
- Technology
Reasons for Implementing Balanced Scorecard:
- Improve alignment so all employees are marching to the same strategy.
- Inform everyone about how their job affects the strategy.
- Balance financial and non-financial indicators.
- Balance long-term and short-term goals.
- Create leading as well as lagging indicators.
- Better evaluate if your strategy is working.
From China
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- At the top of the performance measurement system, designed to measure the degree of success in implementing a business strategy, and designed to have a broad range of performance measures that better reflect all things an organization needs to be successful. It generally has three or more categories or perspectives of performance measures. Norton and Kaplan use financial, internal, customer, growth, and learning categories.
Many organizations use:
- Baldrige Award
- ISO 9001
- Tableau de Bord
The most commonly used categories are:
- Finance
- Customer
- Organizational
- Operational
- Technology
Reasons for Implementing Balanced Scorecard:
- Improve alignment so all employees are marching to the same strategy.
- Inform everyone about how their job affects the strategy.
- Balance financial and non-financial indicators.
- Balance long-term and short-term goals.
- Create leading as well as lagging indicators.
- Better evaluate if your strategy is working.
From China
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Balanced Scorecard.zip
6 Balanced Scorecard A Strategic Management Tool.pdf