How can I calculate my Balanced Scorecard values? One option is to use balanced scorecard software, like our BSC Designer. But its always a good idea to understand how to calculate your scorecard manually.We explain how to “calculate Balanced Scorecard values” in Balanced Scorecard Toolkit:
We’ll explain the process in “How to calculate performance indicators, step-by-step.
We’ll cover perspectives and metrics.
Weights and scores.
And step-by-step, how to calculate your performance and normalization.
The Balanced Scorecard Toolkit includes step-by-step manuals, documents, presentations, and check lists designed to help business professionals develop and implement a Balanced Scorecard. The result: better, faster, and more affordable results for your business.
The Balanced Scorecard Toolkit:
Provides valuable information for each stage of your Balanced Scorecard life cycle;
It is a source of ready-to-use guides, check lists, and step-by-step manuals;
And the Toolkit includes more than 280 pages of presentation slides.
Balanced Scorecard is a powerful concept used worldwide by the most successful companies. That is why the Balanced Scorecard is today a part of course in MBA programs.
Our company has a solid background with practical usage of Balanced Scorecard we are happy to share our expertise with MBA students focusing course program on practical aspectsof Balanced Scorecard.
We can participate in your MBA course in 3 different ways:
eTraining product “Practical introduction in Balanced Scorecard“. This products includes 50 minutes of explanations. For MBA class room this product can be used as a stand alone or together with comments of MBA lecturer who is running Balanced Scorecard course;
Web-based training “Practical introduction in Balanced Scorecard’. In this case one of our specialists plays role of lecturer and explains MBA students key aspects about practical usage of Balanced Scorecard, giving real-life examples and answering questions;
Invite our specialist to your class room. Face-to-face networking, workshops, better interaction with MBA students. One of these who designed BSC Designer, BSC Toolkit, managed creation of KPI Library will help your students with better understanding of practical aspects of Balanced Scorecard. We are located in Prague, Czech Republic, so we are free to travel in Europe.
If you are interested in adding practical course about Balanced Scorecard in MBA program that you are teaching, please contact us.
Please, specify your email address below to download BSC Designer PRO:
You will have download link immediately;
You will have e-mail with some start-up instructions;
We can send you some offers about BSC Designer products;
Please, note: if for some reasons you don’t want to have emails from us, but still want to use BSC Designer, you can just click the button without entering any email.
Choose your language
The interface of BSC Designer is translated into several languages. After you will download the software choose your language in View > Language menu:
Please, specify your email address below to download BSC Designer Standard:
You will have download link immediately;
You will have e-mail with some start-up instructions;
We can send you some offers about BSC Designer products;
Please, note: if for some reasons you don’t want to have emails from us, but still want to use BSC Designer, you can just click the button without entering any email.
Choose your language
The interface of BSC Designer is translated into several languages. After you will download the software choose your language in View > Language menu:
This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.
Checklist on designing good strategy maps
Strategy maps must depict critical information in simple manner
- Strategy maps must incorporate long term business plans pictorially for easy comprehension;
- Strategy maps must carefully depict a step by step approach for organizational excellence.
Strategy maps must cover useful information and facilitate putting together all the pieces for the big picture.
- Attractive presentation is essential to facilitate easy understanding and richness of material included, ensures simple adaptability and implementation;
- The four perspectives depicted in the map contain the vital inputs of the company’s growth strategy and must comprehensively cover the vital inputs.
This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.
IT strategy map - enhance IT solution
Critique: An IT strategy map gives a framework to achieve an IT objective. For example, let’s consider the objective is to enhance IT solution.
The Learning and Development Perspective aims at enhancing database, systems and networks, implementing proven information technology and get training on working of new software. Internal Perspective focus at developing processes for networking throughout the organization and with stakeholders as well, appointing technically skilled staff, and maintaining IT standards. The customer perspective focuses at providing the required quality and quantity of products as desired by customers. The Financial Perspective aims at improving cost structure, increasing asset utilization and formulating cost-benefit analysis of each new software or technology before implementing.
This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.
Strategy maps success stories. Case III- Rotomac Shipping INC
Rotomac Shipping Inc, a leading shipping corporation based out of Panama, had an enviable record as a efficient shipping corporation with a strong fiscal performance spanning across decades. However in recent years, increasing oil prices and tendency of suppliers to lay stress on unconventional shipping routes has started to take an effect on both its profitability and operation efficiency. The management of RSI led by Clark Smith, was striving to streamline the operations for the last 2 years and yet were not able to align their strategic goals with operational plans. Exasperated at the continuous failure to structure the working, the management finally decided to take help of Zelcosm Consulting, a core BPR firm specializing in the shipping industry.
In their very first meeting with Clark, executives from Zelcosm asked the management to devise a balance scorecard for the company and also design overall and functional strategy maps. After series of deliberations, a strategy paradigm was identified for RSI and series of strategy maps were devised to present it in a manner that different stakeholders can identify what was expected from them.
With the help of strategy maps and some guidance form industry consultants, RSI was able to streamline its operations and increase work efficiency by a substantial level within a year. The company incidentally saw a 23 percent increase in its net profits while total sales increase hovered around a meager 8 percent and this fact was a testament of the level of profitability that the company was able to derive out the usage of strategy maps.
This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.
Goals and applications of strategy maps:
Strategy Maps are developed with keeping in mind business objectives and aims for long term profitability and illustrates a lined chain of events that contribute to the subsequent business ambition.
For any commercial business entity, a strategy map covers tactical approaches to achieve its business goals with the assistance of diverse tools that depicts a cause and effect relationship between the different components or key performance indicators in a balanced scorecard to reach out to the requisite business deliverables.
Strategy maps have varied goals for diverse verticals and specific purposes, most likely for strategic alignment and measurement of business processes along with planned appraisals to scrutinize performance and subsequently manage them efficiently and furthermore to use the strategy maps in generating consensus around the calculated business objectives and strive to facilitate effective communication of same to all stakeholders and creating a picture encompassing all the objectives and making it clearly visible and descriptive to comprehend and follow by all and arrange all the complex data into simple diagrams and eventually drive alignment.
Let take an example of technology implementation in an organization; it is essential to plan the business goals strategically in order to make the IT processes more purposeful and complementary to the desired governance of the department and smoothening out the processes and structures.
The idea is to do away with extensive documentary mediums which contain the complex data in a theoretical manner covering the intricacies of input and output facets of the IT specific strategies, with a strong assessment procedure to regularly review and update the generated plans to maintain their long term relevance and significance.
The user interface of the BSC Designer is friendly and easy to adapt even for some of the beginner in my department. I''m still new to it but already beginning to love it. Give me another 2 weeks and may be I'll upgrade to the PRO version....
Dr Md AMin Muslan, Defense Industry, Ministry Of Defense, Malaysia. More about BSC for medical planning
The BSC Toolkit for HR reviews different aspects of using Balanced Scorecard for HR unit of company: how to control and improve hire process, how to manage candidates, how to improve interview and trainings.
