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1、2GCFAQAnswer,Page 1 of 2,FAQ Answer:What is the,Balanced Scorecard?,In 100 words,A Balanced Scorecard monitors the performance of all or part of an organisation,towards(usually)strategic goals.It uses nancial and non-nancial performance measures(normally less than 25,spreadacross two or more perspec
2、tives)to highlight areas where the organisation is failing to do what isrequired or was expected.Popularised in the early 1990s,Balanced Scorecard is widely adopted acrossthe private,public and NGO sectors.,To be useful,a Balanced Scorecard has to include the right measures and targets a dicult thin
3、g to do.Modern Balanced Scorecards(see FAQ1b)make this design activity easier and more reliable.,In slightly more detail,e Balanced Scorecard was rst brought to public attention through an article in the January 1992edition of the Harvard Business Review.e article,by Robert Kaplan and David Norton d
4、rew upon theprior experiences of several rms,including Analog Devices,which appears to be where the idea wasrst developed in the mid 1980s.,Early(First Generation)Balanced Scorecard designs featured a small number of performancemeasures typically spread across four perspectives.Kaplan&Norton propose
5、d a set of perspectivenames(Financial,Customer,Internal Processes,Learning&Growth)to help with the design process(that is to say,to work out what measures to use,you should think about choosing ve or sixmeasures from each of these categories).But nonetheless organisations found the selection ofmeasu
6、res and targets dicult,and many early Balanced Scorecards failed.One reason for the failurewas that many organisations had attempted to use the Kaplan&Norton perspectives without thinkingabout whether they were suitable.Many suggestions have been and continue to be made for changes tothe names of(an
7、d number of)perspectives.However,the causes of early Balanced Scorecard failurewent beyond the choice of perspective headings,and First Generation Balanced Scorecards continuedto fail.,By the end of the 1990s most Balanced Scorecard designs used a form of a substantially improveddesign process that
8、had begun to emerge in the middle of that decade.is new approach initiallydesigned the Balanced Scorecard in terms of a set of high-level objectives to be achieved,with measuresbeing chosen for each objective as part of a second design step.ese new Second Generation designsillustrate how the various
9、 objectives are related using a diagram called the strategic linkage model orstrategy map.Using objectives and linkages helps to provide a stronger basis for choosing measures,and for justifying these choices to others.However,it does little to help set targets for the measureschosen,or to ensure th
10、at multiple Balanced Scorecards within an organisation are aligned,constraintsthat limit their utility substantially.,e process of design improvement continues,and since 2000 has resulted in the emergence of a irdGeneration of Balanced Scorecard designs.ese are easier to develop,implement and use th
11、an anyearlier version.See our related FAQ“What is current best practice Balanced Scorecard?”for moreinformation on the most modern design process.,Reecting the changes in the design process that require more explicit disclosure of the underlyingstrategy and goals the Balanced Scorecard is becoming t
12、he focus of a wider strategic managementprocess a framework for strategic management and control rather than just a performancemeasurement device.,Why would I want one.?,2GC Active Management has a very broad experience having worked with organisations in 33countries across public,private and NGO se
13、ctors on the design,introduction and use of BalancedScorecard.Our clients tell us they are looking for Balanced Scorecard to help them:,To provide reliable information to reassure leadership teams that their strategic plans arebeing implemented eciently and eectively and are having the impact they e
14、xpect;To enable improved alignment behind strategic goals across the whole organisation;,2GC Limited,2009 Albany House,Market Street,Maidenhead,SL6 8BE,UK Tel:+44 1628 421506,2GCPerformanceManagement,Page 2 of 2,To instil greater clarity and consensus within management teams concerning their shared
15、goals andpriorities,and to provide them with unambiguous feedback on their progress in achieving them;To strengthen existing management processes,making them more focused on achieving andmaintaining performance improvements;,To provide a better and wider understanding of the role and contribution of
16、 shared services(e.g.HR,Finance)within the overall strategic context;,To provide a more reliable basis for the awarding of incentive based pay.,Can I build one myself?,Many organisations do,and oen successfully.But the design work is resource intensive,and benets hugely fromexperience of having done
17、 it before.2GC is one of several organisations oering training courses in how to developa Balanced Scorecard(see our web site at www.2gc.co.uk for more details of our current courses).But it is notuncommon for organisations that develop a Balanced Scorecard to end up calling in outside expert help.e
18、y takethe view that getting the design work done quickly and reliably will improve the probability that the BalancedScorecard is adopted quickly and eectively by the organisation.is,aer all is a very important goal;if yourBalanced Scorecard is not used it is hard to see how it will be valuable.,More
19、 Information.,A full discussion of Balanced Scorecard evolution can be found in:,Lawrie,G J G and Cobbold I(2004).ird-generation Balanced Scorecard:evolution of an eectivestrategic control tool,International Journal of Productivity and Performance Management,Vol.53,No.7,pp.611-623.,e Resources secti
20、on of the 2GC web site contains a wealth of useful information on Performance Management ingeneral and the Balanced Scorecard in particular.In addition to answers to other Balanced Scorecard FAQs,theResources section contains longer papers(such as the one cited above)on a variety of topics,case stud
21、ies andvarious short presentations,all of which can be downloaded without charge.e website also hasrecommendations for books and articles on the subject and links to useful web sites.For information on 2GCsprofessional services including consultancy and training programmes,visit the Services section
22、 of the web siteor email info2gc.co.uk.,About 2GC Active Management.,2GC is a research-led consultancy expert in addressing the strategic and performance management issues faced byorganisations in todays era of rapid change and intense competition.Central to much of 2GCs work is theapplication of 3rd Generation Balanced Scorecard,an approach to strategic implementation,strategy managementand performance measurement.,2GC Limited,2009 Albany House,Market Street,Maidenhead,SL6 8BE,UK Tel:+44 1628 421506,
