Testimonials

Donald's presentation was delightfully entertaining, engaging, and motivating. . . the evening was filled with laughter and enjoyment. As a direct result of a very satisfied audience, four members of the audience stepped up to volunteer their time and skills to the Dallas Section ASQ. Thank you, Donald!

Kiami Rogers, Chair, American Society for Quality Dallas Section 1402

WHAT OUTCOMES DO YOU SEEK?

Balanced Scorecard

The balanced scorecard is a management and measurement system that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback for both the internal business processes and external outcomes for the purpose of continuously improving strategic performance and results.

The balanced scorecard approach builds on some key concepts of management systems like Total Quality Management (TQM). customer-defined quality, continuous improvement, employee empowerment, and measurement-based feedback.

According to Darrell Rigby at the Bain Company, the measures for Balanced Scorecard usually include the following categories of performance:

Financial performance (revenues, earnings, return on capital, cash flow)
Customer value performance (market share, customer satisfaction measures, customer loyalty)
Internal business process performance (productivity rates, quality measures, timeliness)
Innovation performance (percent of revenue from new products, employee suggestions, rate of improvement index)
Employee performance (morale, knowledge, turnover, use of best demonstrated practices)

Benefits

Clarifies and updates business strategies
Links strategic objectives to long-term targets and yearly budgets
Tracks key elements of the strategic plan
Incorporates strategic objectives into resource allocation and action plans
Facilitates organizational change and development
Compares the performance of various business units
Increases organization’s awareness of vision, mission, and values

Approach

We can incorporate a Balanced Scorecard approach in our Strategic Planning process or take your existing Strategic Plan and create a Balanced Scorecard to fit your objectives.

Determine vision and mission and values
Identify performance categories link the organization’s vision and strategy to its results (e.g., financial performance, operations, innovation, employee performance)
Establish objectives that support the business’s vision and strategy
Develop effective and meaningful standards and metrics, establishing both short-term milestones and long-term targets
Obtain buy-in from all key organizational sponsors
Create links to budgeting, tracking, communication, and reward systems
Collect and analyze performance data and compare actual results with desired performance
Create checkpoints to determine gaps and develop plans to close gaps

Would you like to create a Balanced Scorecard for your organization? Let’s Talk