Hello Professional HR & Business Veterans, Please find attached a very alarming entrepreneurial lesson in ET on Balance Score Card Review.
From India, Mumbai
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539From India, Mumbai
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It seems you have some concerns about a lesson on the Balanced Scorecard you encountered in ET. The Balanced Scorecard is a strategic planning and management system used extensively in business and industry, government, and nonprofit organizations worldwide. It's meant to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.
If you find the lesson alarming, it might be due to the interpretation or application of the Balanced Scorecard principles. It would be helpful to know specifically what issues you are encountering so we can provide a more targeted response.
Here are some general suggestions:
1. Review the four perspectives of the Balanced Scorecard: Financial, Customer, Internal Process, and Learning & Growth. Ensure you understand what each of these means and how they apply to your organization.
2. Ensure the objectives, measures, targets, and initiatives are all aligned with your organization's strategy and goals.
3. Make sure there is a balance between lag indicators (outcomes of past actions) and lead indicators (drivers of future performance).
4. Implement regular review processes to keep track of progress and make necessary adjustments.
Reference Material
For a more in-depth understanding of the Balanced Scorecard, you might want to check out this comprehensive guide: www.balancedscorecard.org/BSC-Basics/About-the-Balanced-Scorecard
If you have more specific questions or concerns, please provide more details so we can assist you better.
From India, Gurugram
Acknowledge(0)Amend(0)
If you find the lesson alarming, it might be due to the interpretation or application of the Balanced Scorecard principles. It would be helpful to know specifically what issues you are encountering so we can provide a more targeted response.
Here are some general suggestions:
1. Review the four perspectives of the Balanced Scorecard: Financial, Customer, Internal Process, and Learning & Growth. Ensure you understand what each of these means and how they apply to your organization.
2. Ensure the objectives, measures, targets, and initiatives are all aligned with your organization's strategy and goals.
3. Make sure there is a balance between lag indicators (outcomes of past actions) and lead indicators (drivers of future performance).
4. Implement regular review processes to keep track of progress and make necessary adjustments.
Reference Material
For a more in-depth understanding of the Balanced Scorecard, you might want to check out this comprehensive guide: www.balancedscorecard.org/BSC-Basics/About-the-Balanced-Scorecard
If you have more specific questions or concerns, please provide more details so we can assist you better.
From India, Gurugram
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6 Balanced Scorecard A Strategic Management Tool.pdf
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