Monthly Archives: May 2010

Balanced Scorecard vs EVA: Differences and Similarities

Major advantages of BSC and EVA

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 Value Added) and Balanced Scorecard.  We

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Posted in BSC Modifications
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Measuring Innovation

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

Education 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 Introduction to BSC
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Internal Processes Perspective of the Balanced Scorecard

Generic strategies on Internal BSC perspective

Some believe that “Internal Business Processes” is one of the most important perspectives of a strategy map. The objectives from this perspective are related to the business systems that insure the operation and stability of any business. In this article I will: Focus on generic strategies and their representation in Internal perspective;

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Posted in Introduction to BSC
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Customer Perspective of the Balanced Scorecard

Customer in the Balanced Scorecard perspective

According to what we see daily, “Customer” is one of the most problematic perspectives of the Balanced Scorecard framework. And it is not customer KPIs that cause strategists the most problems… One needs to clearly understand: Who is the “customer” in customer perspectives How to come up with objectives for

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Posted in Introduction to BSC
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Measuring Employee Morale – Management Quality Indicator

The best way to measure morale

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. The employee morale is a very good indicator of the quality of the management team since it is the most direct outcome

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Posted in Engagement and Loyalty
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Financial Perspective of the Balanced Scorecard

Financial perspective of the Balanced Scorecard for non-profit

There are normally no problems with defining objectives for the financial perspective of the Balanced Scorecard for profit-oriented organizations. Any business has financial goals, and is accustomed to using financial metrics. For  most businesses the challenges are to shift a focus from financial perspective only to the Customer, Internal, and Learning &

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Posted in Introduction to BSC
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Balanced Scorecard For Financial Institutions

Balanced Scorecard with KPIs for a bank or other financial institution

Implementation of the Balanced Scorecard in banks and financial institutions is a very tricky thing as there is huge temptation to focus on financial indicators only.  As known, banks, mortgage and insurance companies, credit unions and other financial institutions work with money to make more money.  So, it is very

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Posted in BSC Implementation
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8 Metrics to Evaluate Entrepreneurial and Management Skills

8 Metrics to Evaluate Entrepreneurial and Management Skills

Over the last few weeks I have been running an interesting experiment in one of my classes. I gave each student $5 and told them to go turn it in to more. The project was evaluated on 8 variables/metrics. These eight basic metrics could just as easily be applied to

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Posted in KPIs
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Aleksey Savkin Performance Management and Balanced Scorecard

Kazim Ladimeji HR KPIs and Performance Expert

Levi Newman Effective KPIs and social metrics

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Oleg Tumarkin Business Measurements

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