A balanced scorecard is a very useful tool to facilitate information discussions; ensure decision-makers understand the various trade-offs, and make the overall strategic balance.
The well designed balanced scorecard with well-selected metrics can harness information-based communication and data-driven decision-making, leading to continuous improvement. The successful businesses are the ones that can leverage the balanced scorecard approach to manage change fluently, accelerating performance in a structural way.
Investment scoreboard: There are both opportunities and risks for every investment. An investment scorecard brings visibility into each investment, provides ongoing reliable investment information, enables the business management to understand the overall investment portfolio health and effectiveness.
In practice, the business investment assessment includes things such as resources consumption, growing tendencies, cost-benefit analysis of business capability development, etc. A balanced scorecard is necessary to practice holistic performance management in a structural way, allowing the most effective investment initiatives to be planned for achieving corporate goals, especially at the strategic levels, generating multifaceted business values.
Learning indicator scorecard: The purpose of building a learning organization is to unlock the full potential of the entire business. It is at best a collection of attributes which one would like to see depending on the holistic view about what a learning organization can be or could be. Corporate learning scorecards with clearly defined learning indicators provides the business management a holistic view about the enterprise learning performance and progress.
The learning indicators need to be “SMART” -what are the relevant metrics and how can they be quantified and validated, keep track of the progress made via learning toward the predefined set of goals in a consistent manner to develop professional capability. So people can see what the outcome will look like throughout their learning journey quantitatively and qualitatively.
Innovation scoreboard: Isn't what innovation all about: Do it better, differentiate yourself from your competition, run, grow and transform the business. Innovation is not just about technology, it's about people, culture, partnership, processes, technology, etc, all of which being integrated into differential business competency. How would you calculate an innovator's Score? How can you assess innovation management excellence of the organization?
There are high return high risk factors in innovation management, innovation scoreboard brings visibility and improves innovation transparency. Some factors that could be used to measure innovation score within a company could be resources invested (human and financial), employees motivation, top management encouragement and support, challenging activities being involved, level of autonomy given. Innovation scoreboard is an effective decision management tool for improving innovation management agility and performance.
A balanced scorecard is a very useful tool to facilitate information discussions; ensure decision-makers understand the various trade-offs, and make the overall strategic balance. It also provides a “balanced” view of tradeoff variables; helps to set metrics, understand results, adjust plans, and make decisions to improve the variety of business management effectiveness holistically.
Investment scoreboard: There are both opportunities and risks for every investment. An investment scorecard brings visibility into each investment, provides ongoing reliable investment information, enables the business management to understand the overall investment portfolio health and effectiveness.
In practice, the business investment assessment includes things such as resources consumption, growing tendencies, cost-benefit analysis of business capability development, etc. A balanced scorecard is necessary to practice holistic performance management in a structural way, allowing the most effective investment initiatives to be planned for achieving corporate goals, especially at the strategic levels, generating multifaceted business values.
The learning indicators need to be “SMART” -what are the relevant metrics and how can they be quantified and validated, keep track of the progress made via learning toward the predefined set of goals in a consistent manner to develop professional capability. So people can see what the outcome will look like throughout their learning journey quantitatively and qualitatively.
There are high return high risk factors in innovation management, innovation scoreboard brings visibility and improves innovation transparency. Some factors that could be used to measure innovation score within a company could be resources invested (human and financial), employees motivation, top management encouragement and support, challenging activities being involved, level of autonomy given. Innovation scoreboard is an effective decision management tool for improving innovation management agility and performance.
A balanced scorecard is a very useful tool to facilitate information discussions; ensure decision-makers understand the various trade-offs, and make the overall strategic balance. It also provides a “balanced” view of tradeoff variables; helps to set metrics, understand results, adjust plans, and make decisions to improve the variety of business management effectiveness holistically.
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