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Balance Score Card:

Balance Score Card


Balance Score Card:

                Business Companies their highly professional directors, managers, and Operational staffs are aware of using many measures for their performance measurement. Their performances in any field of business operations demand measurement which can be financial and non-financial in both shapes. The great think tankers of the operational management resolve their issue and develop some great measurement techniques which help us nowadays to measures the financial and non-financial performance of a business or production and non-production department.

Balance Score Card is one of these performance measurement tools or techniques. That helps the management of the business department and organizations to evaluate their operational performances.
In Balance Score Card we need to focus on the Critical Success factors which are the vital factors and they establish a measuring ground for performance measurements of a department or business unit in a specific period of time. Normally we need the information about financial operations, Customers Satisfaction, Business internal operations and about its development and growth. But SWOT Analysis is very effective performance measurement tools which help out us in this performance measurement through balance scorecard.

Financial Performance:

Objectives:  Increase the business profit for shareholders.

Measures:    Improvement in Shareholders and company investment and profit (dividend) distribution.

Customer Satisfaction:

Objectives:         Achieving Customer trust &Good Will for business.
         
Measures:          Increase the Market Share, Customer Surveys Positive reports and improvement in services to customers. Product or Service Cost and Quality factors.

Business Internal Performance:

Objectives:         Improvement in Production quality and business communication       efficiency.

Measures:          Zero defects in production, Efficiency in production and Communication level effectiveness.

Growth development & Learning:

Objectives:         Employee Confidence & Competency levels Improvement.

Measures:          Attendance in training seminars, symposiums, workshops, Job training and surveys positive response.  


That is the balanced scorecard which is very helpful to the business performance measurement due to its critical success factors, objectives and its measurement tools. That's helping the business to judge and measure the business performance in a specific period of time or to judge the business by it operations easily.
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