Monthly Archives: May 2010

BSC Impementation Case Study (Construction company)

Balanced Scorecard management system arouses keen interest of top managers of various companies.  However, often those who start implementing BSC fail because they forget about the first and the most important step which is working out of a company strategy.  One should understand that BSC does not substitute strategy but

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Posted in BSC Implementation
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BSC – the main company dashboard

What can be done so that the Balanced Scorecard becomes the main organizational feedback system and it measures the things that allow the company to safely take off, land, fly and navigate through its difficulties and opportunities, regardless of the outside weather conditions? I am reminded of a story from

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Posted in Manage Company With BSC
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Applying non-financial indicators in relations with customers

Nowadays implementation of newest management systems in business processes is very acute and popular.  But the question “what needs to be done?” raised by top managers and answered in specialized literature, special management courses and universities, is followed by the question “how to implement it?” What steps are to be

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Posted in KPIs
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Balanced Scorecard vs EVA: differences and similarities

A great advantage of Balanced Scorecard is the possibility to use it in combination with other performance management systems and individual indicators.  We have already written about Six sigma, Total Quality Management, Lean production and the way these systems can work with Balanced Scorecard.  This article focuses on EVA (economic

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Posted in BSC Modifications
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Measuring Innovation

Innovation management is a method to measure and manage all processes related to innovation in the company.  At that, it can be development of innovation in products and services, as well as organizational innovation.  Often, some companies are making mistakes by introducing new ideas as to products and services without

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Posted in BSC Implementation
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Learning and growth perspective of the Balanced Scorecard

In the Balanced Scorecard there is a separate “Learning and growth” perspective. Let’s take a closer look at the objectives that one can map inside, and the measures that one can use. As follows from its name and from the Balanced Scorecard paradigm, “Learning and Growths” perspective answers the question: How

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Posted in Perspectives of BSC
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Balanced Scorecard: the four perspectives. Internal processes

Much has been said about most common mistakes managers make when implementing Balanced Scorecard. One of the most typical errors is that a company may be simply unready to use BSC or it lacks human resources who will be in charge BSC implementation. At the same time, even competent personnel

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Posted in Perspectives of BSC
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What is a customer perspective of the Balanced Scorecard?

It has been proved that Balanced Scorecard works at best when measures in the all 4 perspectives are correctly set: financial, customer, internal processes, learning and growth. Each of the perspectives covers certain aspects of business functioning, both in the internal and external environment. According to own strategic goals, companies

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Posted in Perspectives of BSC
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Measuring Employee Morale – Management Quality Indicator

Employee morale is second only to the quality of the management team in influencing the long term success of a business or for that matter of any organization. It (the employee morale) is a very good indicator of the quality of the management team since it is the most direct

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Posted in Engagement and Loyalty
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Balanced Scorecard: the four perspectives. Financial perspective

Introduction of Balanced Scorecard system in early 1990 was a response to business challenges of that time. The system was the first to add non financial indicators to a set of KPIs to be evaluated under performance management concept. Inclusion of non financial indicators did not mean that creators of

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Posted in Perspectives of BSC
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