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BSC Designer Ensures Strategy Implementation

July 22nd, 2010
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“I am a strategy consultant for blue-chip private sector clients as well as public sector clients throughout Africa, the Middle East and North America. I utilize the Balanced Scorecard to ensure that clients implement their carefully crafted strategies.

We live in an age where data needs to be turned into information which needs to be turned into knowledge and ultimately business intelligence (strategic wisdom).

There are numerous Balanced Scorecard software packages around and I have reviewed many of them. I totally enjoy the BSC Designer as it has extensive functionality that provides an easy-to-use and visual method for allocating and viewing all of the key elements required for managing the Balanced Scorecard. Furthermore, it allows you to create excellent dashboards and reports which are crucial in rapidly being able to identify your areas of poor to great performance.

I highly recommend BSC Designer to any company or consultant that uses the Balanced Scorecard methodology to ensure strategy implementation and monitoring.

Myles Hopkins, Head of Consulting Qbit, South Africa

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BSC Designer helps with the strategic planning of a company and a personal life

July 22nd, 2010
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Being active in the business world as a consultant and tutor, I work specially on issues of project based organizations.

Actually I am currently engaged with the strategic planning and implementation in our company based on BSC system. We are going to see this system as a new field in our company services. As for the tool,  it impress me so much when I saw the BSC Designer Light edition applies this technique to personal life! Actually by applying this software in my life I feel more enthusiastic to follow my personal goals and I think it could be a good appetizer to make your life changed. As you know one of the key success factors in achieving personal goals is to make them tangible and BSC Designer will do it for you.

Ruhollah Ashrafian, MBA
Rahbaran System Rastak Consulting Company

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Key Performance Indicators: Measuring Systems

July 20th, 2010
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How can one measure company success? What indicators’ values should be improved to outrun competitors? How to link routine operation with the strategy? In most cases a company has to find an answer to these questions.

However, for enhancement of business performance it is important learning to assess factors that influence its increase, to compare routine operations performance with the strategic goals. The subject of performance measurement has become popular recently.

KPI (Key Performance Indicators) and such methods as BSC (Balanced Scorecard) give a company an opportunity not only to estimate its work, but also to compare the given results with the similar indicators of competitors, suppliers, customers.

The philosophy of Key Performance Indicators is as simple as that: “If you try to manage something, you must be able to measure it. Until something is not measured, it is ignored.” Here is an example: everyone realizes the importance of the so called pre-sale period in the company’s operation. Pre-sale preparation of goods or service usually takes much effort and resources. Time and resources, spent on “manipulating customers”, are often incommensurably bigger than the final result: the contract is signed, but its amount does not cover preliminary pre-sale expenses. Perhaps, this is a potential customer and the expenses may be compensated in future, but maybe not. How to assess whether time and resources, spent in the pre-sale period, is up to the final result?

Key Indicators system helps to see a posture on a strategic prospect. And to see, for example, in a close margin of profit of a certain deal long-range investment into account management, which within the next months will have an economic effect.

Balanced Score Card (BSC) methodology also uses key activity indicators. With the help of business process analysis the spheres significant for a company are defined, in which key regularly measurable indicators are set.

Every sphere has its goals, coherent to strategy, and key activity indicators are used for the assessment of goal achievement. Exactly this approach allows to compare the measured performance indicators with the strategic company goals.

Let us suppose that company defines four areas in BSC system – finances, markets and customer relations, implementation of projects, organization development and staff, each of these having measurable indicators. For example, for a financial sphere it is an economic added cost, free cash flow, liquidity, turnover of holdings, etc.; for implementation of projects – increase of sales, cost price and project profitability or a share of projects, made without any reprimands.

While developing KPI system it is important that the used indicators should be clear to all employees, taking part in a process. Usually people involved in a certain deal concentrate only on their responsibility, understand dealership efficiency differently and practically never understand the importance and place of the deal in the company goal structure. Some of them concentrate on timeliness of document preparation, some – on signing of contract, others – on reduce of expenses etc. KPI allows to have an idea how to function, particularly, do the project, have a common understanding, make market selectivity in employees’ activity and units.

Common coordinate system allows all the participants to understand the process and to speak one language. Its lack greatly hampers company work as a managed mechanism, as employees spend much effort and time to negotiate informally and to achieve common understanding, realize further actions.

The first and most significant condition for usage of performance measurement methods is recognition by company management the necessity of this step. The other condition – presence of well-developed data system. On this basis one can implement analytical system, supporting usage of KPI.

After indicators have been assessed, design procedure has been developed and supplied with data, discount data systems have been implemented, performance measurement system must be integrated in business processes. Otherwise, it will remain useless plaything – may be nice, but still alien and nonviable to a company. Commonplaces cannot be used here, so interactive approach is inevitable at organizing the system of this class: at first, a tentative draft, that will be further improved, is done.

For overwhelming majority of companies, that devote due attention to its performance and internal organization, implementation of such methods is just a matter of time.

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Measuring Risk: Key Risk Indicators (KRI)

July 20th, 2010
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“The best method to grow thin is to amputate own hand”

With this comment Gary Cokins illustrated the practice of the unreasonable cost reduction, tendency which became popular lately among some short-sighted companies during the worldwide financial crisis. Gary Cokins is the famous expert of enhancement of efficiency in corporate business and his comment obviously doesn’t lack the expressiveness. The public interest to his statements warmed up by the uncertainty which characterizes not only the condition of some companies but the condition of the whole world economy.

Gary Cokins pointed out some tendencies in Corporate Performance Management (CPM) which call special attention. He emphasized particularly that the statement defining CPM as a system of budgeting, managing and controlling of strategic development is very narrow. The definition should include also “conscious risk management”. The main goal of such management is not to minimize the risk exposure of the company but offset the company with risk appetite because only taking the risk leaders can achieve competitive advantage. But to be able to gain such advantage a leader should know market risk, risk transfer, operational risk and legislative risk. The special attention should be paid to transfer risk because these risks are not depending on external circumstance as much as others and could be controlled. Gary Cokins said that in this case Key Risk Indicators (KRI) and Key Performance Indicators (KPI) should be controlled at the same time. It is also important to monitor the right indexes for KPI and KRI of corporate level through all management hierarchy up to the personal rates comprehensible for average employee. For example according to Mr. Cokins resignations of leaders of some of the companies which were the Media headlines during the crisis actually were activated long time ago. He asserts that it was already obvious in 2007 and the main cause is that the top management unable to carry out strategy adopted by shareholders and specially they cannot make it clear for all employees.

Talking about expenses reduction Gary Cokins paid special attention to the Activity Based Costing analysis. The Activity Based Costing analysis now is not only fixing on overhead charges and indirect costs for some products and services but more and more focusing on finding the most advantageous products and services, and the most profitable distributors and customers.
In that context the role of CRM-system is also changing. The system now is not only individualized client communication means but also a very important mechanism of differentiated approach to each customer based on the importance and profitability.
The timely issue considering correlation of the short-range planning (operational planning) and long-range planning (strategic planning) also was in the writer’s focus. Gary Cokins pointed that traditional annual budget became inadequate under the present-day conditions. Indeed the annual budget very often is impracticable for a multitude of reasons and holding fix the activities of some of the managers while the others just ignore the plan. For the timely adjustment of the annual budget are very useful means of the prognostic analytics. But it seems that the management of the strategy in its wide extent is very difficult in conditions of market instability and probably does not have a complete solution. “The strategy should never become static for a long time perspective, – says Gary Cokins, — the external factors like rivals appearances or changes in client’s preferences will always force you to change the direction.”

But it is different issue when in a short period of time you have to change the strategy completely because small adjustments are helpless. At that point fundamental change should be made for strategy map as well as for KPI sets and operational goals.
The author does not give well-defined answer but it is possible that the well adjusted and organized BSC system support can handle the problem. Certainly automation of strategy map translation into operation goal seems impossible (and actually it is) but the reduction of time to apply at least operational level changes might already become a big step. Please read more in the article: “Balanced Scorecard: improving communication in the company and adapting to market changes“.

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Discovering the new horizons of management: The benefits

July 20th, 2010
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What will you obtain by using BSC?

To be short, use of Balanced Scorecard will let you use:

To manage your business as a unit (which includes almost unknown for most of managers “noneconomic” factors). Think about how often you was saying “manage” and in the matter of fact kept in mind some unimaginable blend of “going there not knowing where” and “ do what others tell you”. Managing as a unit means the whole organization (every single employee) works in order to achieve a strategic goal.

To improve the level of visibility of business the managers up to the top level of hierarchy. With BSC you will get a measure with the help of which you can impartially to estimate your business and to predict probable scenarios of its development before the market will do it instead.

Really to control your managers without need to immersion in those parts of administration, that they are responsible for it. If before BSC implementation you were thinking that no one of your managers will not risk to cheat you, so now they simple will not be able to do it in large-scale.

Conclusion

The volume and format of our article does not let us to describe BSC in more detail. If you want Balanced Scorecard to work for you at the full capacity, it is necessary to know and to be able to use a lot of quite difficult details of this methology correctly.

The map of the article

Part 1. Discovering the new horizons of management: Introduction;
Part 2. Discovering the new horizons of management: Measuring non-material;
Part 3. Discovering the new horizons of management: How exactly to measure?;
Part 4. Discovering the new horizons of management: The benefits.

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Discovering the new horizons of management: How exactly to measure?

July 20th, 2010
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Challenge №3. How exactly should it be managed?

Conception BSC is properly the most general answer for all of the 3 challenges at the same time. On the one hand it allows to put into digital form any type of assets and any aspect of business thank to the use of non financial criteria and on the other hand to manage seamlessly “digitalized” business in the form, which is ideologically very close to that one, which was used in traditional material economy.

Let’s look through any business from official point of view. Its compulsory aim is the reception of positive financial results, practically without any dependency on historical prerequisites which the business is carried out in. Manipulation of material and non material assets is the implement for influence on the external community in relation to business and the financial result is an estimation and summation of this influence.
[image 1]

On the image there is a description of the scheme of conversion process of assets in conditions of nonmaterial economics. The classical reorganization “Tangible assets > Money” was altered by reorganization “Tangible assets + intangible assets > Money + Intangible assets stroke.” By the way exactly the increase in the course of this “distillation” of intangible assets (consider that they are presented at the right part of reorganization as well because they are not only to be expended but also to be increased by right business conduct) explains a faster growth of non-material economies comparing with the material. As part of present article scheme will make us interested just in the context of question about the management job.

In spite of apparent obviousness of the scheme not so obvious deduction succeeds out of it as follows: any managing influence must explicitly consider all echelons of this cause-effect chain (in other words all movements of all assets in strong interrelation no matter on which level they would be provoking these movements of business processes). Disregarding of lower link (by of top management) leads to financial indexations and indexations that characterize position of company in the market “hang down” in the air and become inapproachable.

Administrative staff does not understand how they should turn into the reality the words the personable aims, which headquarters “appose” for them. Disregarding of higher links (by the managers of the middle link) results to that point of activities that activity itself becomes the reason of that activity, that doesn’t lead to consummation specific financial and trading multiple (further under “criterion” will be comprehend financial and nonfinancial criterions). In other words there’s the same “slant” aside managing of only some assets of a company about which we have mentioned above.

That is why when it is spoken about a seamless business managing we have in minds, or to be more correct, BSC supposes the next series of steps:

On the basis of viewing business expressed or not expressed of this way or another in form of mission (better expressed adequate enough) and with due consideration of the realities of the market property owner must represent to the top manager list of clear aims that are stated through resulting criteria, which should be reached. Results can be financial criteria; criteria that characterize position of the company in the market and consumer attributes of manufactured goods; criteria of staff competence and so forth depending on viewing and inside units of property owner. The only condition is that criteria must be quantitative. Later the practice will show whether the chosen criterion expresses some non material asset adequately or not. The criteria is simple: if the change of meaning of this criteria some way or another influences value of financial criteria then it is expressed and if it does not then the only one that is expressed is unfortunately the only restless soul of property owner. If the performance measurement of criterion is not obvious, for example, consumer attributes of material items or criterion of staff competence then the direct responsibility of supervised “problem” direction of top manager to offer some alternative estimation procedures at option for property owner. (By the way it will be not so bad to test about adequacy for the job or compatibility of top manager and property owner what is generally the same.) This stage in BSC is called the approach.

After recording the resulting criteria, that is the result of the previous step top manager must represent the array of aims, which must be done for the track records of intended resulting criteria (in other words those criteria that attest to intend or not intended strategic aims). In arriving at aims probably it will be emerged that some resulting criteria depend on other missing nevertheless at the list of resulting criteria. These accessorial indicators we will name forming (clearly that forming indicators are criteria that attest to reaching or not reaching tactical threats). Clearly that level of “inclusion” – depends on forming indicator that can be whichever and measure only by the complication of business.

Consequently all that top manager must do at the present stage is to record the full list of the criteria (resulting, that are definite at the stage of strategy determination + forming, that are definite as at the stage of strategy determination and at this stage too) with assignment of formulas that connect the criteria between each other and list of aims realization of which must lead to reaching recorded criteria. In other words aims are those concrete actions, which must be done by dominated of top manager’s structures for reaching strategic aims and the list of criteria is a way to control the task activity. Clearly that each criterion in that way if doesn’t show independent of company reality (for example, the volume of new for company market or macroeconomic activities), must be connected with facing concrete manager a concrete task either directly or indirectly through the forming indicators. All the time it must be absolutely clear who exactly is in charge of reaching any criterion and what way he must influence by the meaning of this criterion.

[image 2]

Tasks that are not connected with of the confirming criteria existed in list are to be rejected. (Occam would tell like this: “Do not augment performances over necessity”.) This stage in BSC is named like “strategies”. Of course we are talking about list of users we mean that those meanings of criteria, which must be reached to the definite time moment. In this particular case this means that about tabular compositions that describes the time history changers of measures through time.

The next stage is very simple as everything already is specified at previous two stages. It’s time to apply and conduct monitoring of reached planned values indicators. Here everything depends on discipline of activity, movement exactly by target goals. This stage in BSC is named like operational administration. Diagrammatically the whole process is introduced at image number 2.

The results of stages of strategy determination and tactic are possible to record, for example, in form of diagram Excel. Obviously it is necessary to “register” those administrations that are relevant to the concrete company. This can be the management of education and the staff development (for example, for financial companies or consulting), and managing of process reception marketing advantages by marketable and mis targeted methods (for example, for producers of juice) and re engineering process of the production. The principal meaning in the context of BSC does not have it. On principle it is important if any of this districts relevant for your business will be overlay either in district of inside or exogenous processes and finances, or at their interception and always will be described as methodologically only the way in the context of BSC.

By analogy with “traditional” budgeting that are generally recognized as a management tool of material assets, “expanded” may be budget of solution and fact, so it can be such effective means of the management as “traditional” as well as the nonmaterial assets already.
That is why there are all reasons to confirm that BSC is really the management procedure of the business in all together! At least till humanity will invent the third type of the assets to add to material and non material assets.

Let’s look at the following example. Let proprietor of some enterprise to decide about possibility and desirability expansion of the enterprise’s activity at the expense of the departure on the regional markets, for instance wholesale. The best of all is if this decision will be formulated in the form of purposeful instruction, for example: “Our Company after period X must enter to Y of the major companies that are operational at such-and-such markets” and as appropriate informed to staff of the company. Then there must be conducted the next arrangements:

1. Marketing department must explain the opportunity of reaching these strategic indicators in terms of evaluation of these markets, calculate the revolution that is necessary for implementing a goal and depending on volume of the market and formulate a plan of performance. In particular in order for informing the information about company and about its products to local concessionaire, it is necessary to work out with concrete materials (for example, informational letters and commercial proposals) and put into practice arrangements about their delivery to consignees (for example, the direct mail). Then the concrete criterions that characterize the activity of marketing department will be the amount of consignees of potential concessionaires along which it is necessary to put into practice the distribution of commercial proposals. At the same time the quantitative meanings of this criterion must be measured from the anticipation of what part of those who received the suggestions will conclude contracts. The predicted percentage ratio and assumed amount of contracts (in turn it calculated on the basis of share of market that is planned to be taken possession) allows calculating the amount of consignees in the address basis of distribution.

2. Sales department must plan the performance in such a way that it can be assured the reaching of the demanded percent who signed a deal among those who will receive the commercial proposal.

3. Both of departments must present plans of their activities in BSC and finalize it with financial, manufacturing career and HR Department.
Upon approval BSC all careers must monitor approved plans according to the predesigned intermittent. Obviously that the on-line monitoring independence of expanded budget plans (in other words meanings of non financial indicators “the amount of potential concessionaires” which received the commercial propose”, “percent from the signed deal” and so forth) will give the opportunity for early detection of appeared problems (we are coming back to the image number 1). At the same time the low meaning of percent of those who signed a deal can be the result of bad work of the sales department or unsuccessfully composed commercial propose (inappropriateness of its conditions) or mismatched address basis. Monitoring of financial indicators (reverse by contracts) can give the information about approximation of promoted products to the regional market.

So, the strategy expressed in form of system of interfacing criteria of course transfers in tactic and guarantees ability of adequate control of reaching intended purposes at least because in case of rising problems it allows to define clearly their source and represent method of their eliminations. (Of course the method of eliminations of problems also must be predesigned through suitably matched quantitative indicators). The interest of using BSC is doubtless even in that case when the reason of rising problem was voting initial error of approach. Then the property owner can understand that the route was chosen erroneously until that time when the business sheep will get a hull breach.

Therefore to the tag of traditional budgeting managing in BSC conforms the scheme that is described on the image number 3.

It’s clear that BSC is necessary not only for managing by sales and it serves not only for producing (in the example based on first sales could be adjusted requirements as to output products and represented plans of its localization for concrete market) but also for training of personnel (low operational efficiency of selling assistants could be the result of lacking qualified personnel where under could be formulated plans of the reeducation for reaching necessary percent of taking place deals). We will take the responsibility to approve that BSC serves for managing of any business aspect including such a specific area like managing of the nonmarket processes.

Although this will raise a storm of indignation of consultants of the approach, but BSC says that the strategy is not so important on its own. The system of the objectivities approach, mechanism of its transformation in the performance and back, control of activity on the accordance of approach are much more important. It’s not accidentally that in original edition of founders BSC there was subtitle “Translating the approach on the language of activity”. This result is also approved by the newest exhaustive investigation of the famous American companies for the last 15 years.

The deduction №3: If the material assets are a “body” of the enterprise and the non material assets are its “soul” then BSC is the integrated system of the transducers and augmenters that are managing business as a life form. The extended period of the history of civilization during which business was considered as some “Frankenstein imaginative” and “was paying” for this by the shocking inoperativeness is declared close. Full point.

The map of the article

Part 1. Discovering the new horizons of management: Introduction;
Part 2. Discovering the new horizons of management: Measuring non-material;
Part 3. Discovering the new horizons of management: How exactly to measure?;
Part 4. Discovering the new horizons of management: The benefits.

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Discovering the new horizons of management: Measuring non material

July 20th, 2010
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Challenge №1. What way do we need to measure non material?

In the context of the article we will be interested in two aspects of intangible assets, more specifically:

Methods, technologies and standards, which are used for optimization of business processes, in other words all that improve effectiveness of business at the expense of reduction of time needed for production, reduction of expenditures and the improvement of products’ quality in comparison with the competitors’ ;

Methods, technologies and standards, which are used for managing loyalty of groups of people, which act as: demanders of the products (regulatory authorities; associations; vendors and others) – all that increase efficiency of business at the expense of increase in a turn-over and the enterprise capital.

The first deduction is: traditional financial model (accounting records and budget management) in no condition with the proper effectiveness to solve the problems, which are opposing managers about necessity of managing the nonmaterial assets. For the successful business administration it requires deployment of nonfinancial criterions (alongside, of course, with financial).

Challenge №2. What exactly should we manage?

The last example is “Customer Relationship” conception that recently became very fashionable. Most of the local structures, which the company had to work with, thought absolutely sincerely, that it was enough simply to operate automatically reception and processing of customers’ calls (imitation of methodology) to enroot the conception. But it was not the main problem – quite the reverse, it could be easily solved. The problem was about incomprehension that this conception initially focused on managing exactly contacts with clients. This led marketing departments to weaken essentially the managing of “potential” (potential not in traditional financial meaning in other words who did not pay money yet, but in nonfinancial meaning in other words by those who did not contact with company still in one or another way) clients by making the emphasis exactly on “adaptation CRM”. The most important source of income, the one which makes costumers to do the first call/resort to the company and to land up in the ambit of control of CRM, was left without any control. And if there are instances when CRM has been understood right and had not been used instead of managing of marketing, then it is too difficult to remember occurrence when all business subsystems (“Customer Relationship” and Brand Management, Quality Management, Budgeting) took concerted actions.

The second deduction: the management of business is more than managing of all business processes/assets; it is managing of all business processes/assets as a whole thing. Taking into account that such a methodology exists for material assets and that material assets as well as nonmaterial ones are still assets anyway, it’s possible to suppose that methodology of managing of both seamlessly should be close to budgeting which has already approved itself in practice. You can be convinced about that by reading further.

The map of the article

Part 1. Discovering the new horizons of management: Introduction;
Part 2. Discovering the new horizons of management: Measuring non-material;
Part 3. Discovering the new horizons of management: How exactly to measure?;
Part 4. Discovering the new horizons of management: The benefits.

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Discovering The New Horizons Of Management: Introduction

July 20th, 2010
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Do you really need to read this article?

The article is aimed to very considerate and obviously of current interest economical subject matter, however it is hardly positioned as scientific research but rather as an opinion-based journalism.

We would really appreciate the anticipation of what we are not going even though to subject at the article of generally sufficient challenging, and to excruciate with unnecessary and boring technological and scientific details. As a matter of fact not so necessarily to know all inside out how the plain is engineered in order for reaching by plain to the point of destination. And the flight by itself will become the best practical confirmation that the plain engineered right by the way of argument like substantiation “Ipso facto”.

Admittedly you are suggested to pass a micro test subsequent to the results of which you will determine if you really need to spend your time for reading represented information below. Now please answer only “yes” or “no”:

  1. Are you sure that you live in one of the best worlds?
  2. Are you surrounded by nice, talented like-minded persons apiece of whom you can repose trust at your work?
  3. Do you think that you do not need to worry about your future? And this is because besides you with a vengeance nice people from the previous question and the whole machinery of government are trying to approximate it; and all together know what to do.

If your answer is “yes” to all of the questions then it is certain, that it is absolutely no need for you to read further.
If your answer is “no” to at least one of the questions then it is recommended to read this article to the end.

The primary objective of activity business consultants worldwide seems to be a development of such recommendations, which operating managers could apply practically here and now. In what connection the basic requirements are correspondence of these recommendations to economical fundamentals, progressive economical theory and most crucially to common sense. This article is an attempt to show, that reliable methodological basis for this can be and should be the Balanced Scorecard (BSC) – one of several economical conceptions, which seamlessly consider “particular qualities of business management” and which mean that it is really usable. If to be more exactly then offered for your attention remodel of the methodology of BSC (The Balanced Scorecard) featured by Robert Kaplan and David Norton, but it saved the main ideas of this wonderful conception. During the article we will specify all differences of our lead-up from the original conception and will describe the reasons that determined us to alter it.

But at first it is necessary to describe those challenges, if the answer to these questions completely adequate will be the Balanced Scorecard.

The map of the article

Part 1. Discovering the new horizons of management: Introduction;
Part 2. Discovering the new horizons of management: Measuring non-material;
Part 3. Discovering the new horizons of management: How exactly to measure?;
Part 4. Discovering the new horizons of management: The benefits.

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The use and testing of the Balanced Scorecard system

July 20th, 2010
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The use and testing of the Balanced Scorecard system in strategic performance management of a company


Balanced Scorecard is a strategic tool that helps a company to control performance of its parts. Balanced Scorecard system is of great use in targeting and controlling of company’s strategic goals. Such kind of methods as BSC has many advantages in business management: efficient business planning, timely generation revenue, sales increase and promotion, creation of businesses identity, etc.
A Balanced Scorecard appeared in 1992. Since then it has been modified and corrected. By the middle of the 1990s a new design of a Balanced Scorecard appeared that demonstrated a better level of goal achievement.

Balanced Scorecard testing is effective in watching and controlling the achievement of the goals that were previously set by the company. It helps a company to use proper performance measuring tools and all company activities to be crowned with success. This system of testing is useful and efficient both in monitoring present activities of the company and watching its activities in perspective. The reason of the BSC usage is quite clear. It improves business organization, promotes the achievement of company’s goals, creates a common understanding of the overall goals and helps in tariff rate increase. Though one can make these systems by oneself, but to save some time people usually use the results of somebody’s work. Companies and organizations often consult with an expert in this area even while using the Balanced Scorecard concept.

It is important to mention here that the very Balanced Scorecard cannot be efficient or useful without fitting to proper measures or goals. Though it is not so easy as it seems. To simplify this process an old design of the scorecard was improved and a new one was developed. To find out whether BSC system is effective or not, some researches were made in this field. This study showed the following results. In 66% people noticed profits increase by using Balanced Scorecard, in 88% there were improvements in operating of a company. Balanced Scorecard method has infinite advantages, so everyone has an opportunity to derive benefit with the help of this system. If you want to learn more information about balanced scorecard testing, you can find it online, in special books or videos. Do you want to see improvements in your business planning and management? Then do not waste your time and act immediately! Only in this case you will be able to reach the desired results.

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I need to update the software or to use it on another computer. How do I make sure about safety of the projects I had been working on? How do I make a backup of those projects?

July 15th, 2010
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I need to update the software or to use it on another computer. How do I make sure about safety of the projects I had been working on? How do I make a backup of those projects?

To make sure about safety of the projects you are working on (even in case of the only computer use – the risk to lose the data always remains) please save the *.bsc file(s) into a storage device. In case of computer data crush or working on the new computer, you may install BSC Designer there, open *.bsc file with its help and continue working with your projects.

The only thing is: according to our License Agreement (read the full text on this page) you need as many users’ license as many different computers BSC Designer is installed simultaneously.

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