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Achieving Balance: Key Steps in Implementing a Balanced Scorecard Approach

Learn how the Balanced Scorecard can help prioritize stakeholders, align goals, and measure performance effectively in this comprehensive guide. Understand the importance of balancing price and profit for sustainability, with a focus on creating value. Get practical tips on setting indicators, goals, and tracking progress. Start implementing your scorecard now to enhance organizational success.

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Achieving Balance: Key Steps in Implementing a Balanced Scorecard Approach

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  1. Balanced Scorecard Getting Started Stan Frink Vice President – Human Resources

  2. BalancedScorecard • Learning Objectives • Focus on creating value for your key stakeholders • Identify your key stakeholders • Determine their key requirements • Why is it important to balance • Price vs profit • Sustainability • Roll up and drill down capability • 30,000 ft view down to ground level • Homework vs grade card

  3. Balanced Scorecard A Balanced Scorecard is simply: • Your key stakeholders • Their key requirements • Indicators of your performance • Displays your goals • All of your important results on one page

  4. Company Goal Performance * Not actual numbers. Numbers are for illustration purposes only.

  5. Company Scorecard * Not actual numbers. Numbers are for illustration purposes only.

  6. Customer Satisfaction * Not actual numbers. Numbers are for illustration purposes only.

  7. CustomerSatisfactionDetail * Not actual numbers. Numbers are for illustration purposes only.

  8. LogisticsDepartmentScorecard * Not actual numbers. Numbers are for illustration purposes only.

  9. EmployeePerformance * Not actual numbers. Numbers are for illustration purposes only.

  10. CompanyDailyDashboard * Not actual numbers. Numbers are for illustration purposes only.

  11. ScorecardResultsReview Company Scorecard Monthly SLT Review Department Scorecard Monthly Review with President Area Process Measures Monthly DLT Review Employee Performance Supervisor Daily Review

  12. Recap To get started on your balanced scorecard: • Identify your key stakeholders • Determine their key requirements • Develop indicators of your performance • Identify comparative data • Set goals • Create a plan to use the scorecard Start with what you have!

  13. Balanced Scorecard Getting Started Stan Frink Vice President – Human Resources

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