A balanced scorecard is very useful to provide a “balanced” view of tradeoff variables for facilitating information based communication: A well-defined scorecard should contain a good mix of outcome measures, with the long-term strategic value along with performance drivers to track the progress in the short term operational value, ensuring decision makers understanding the various trade-offs and making the strategic balance.
A balanced scorecard can facilitate data based communication and performance review. As people can see what the outcome will look like throughout the transition, and then there should be a consideration for a balanced scorecard that measures the progress of the strategic goals you want to achieve.
A scoreboard is a great way of selecting, scoping, and aligning specific projects to overall strategic objectives and the budget. It's also up to the business leaders to show that they add value by implementing end to end metrics on performance and availability, put key success enablers in the spotlight for all team members, and unify their efforts to achieve common performance goals, and insist on KPIs to measure business outcomes.
A scorecard assesses the progress to strategic goals, provides a holistic view about the progress of strategy management and offers a way for a corporation to gain a wider perspective on its strategic decisions by considering the impact on finances, customers, employee satisfaction, business dependencies, and constraints between components, individuals, and overall risk exposure.
The goals of applying scoreboard are to translate the vision and strategic planning into operational goals; communicate strategy and link it to individual performance. People can see what the outcome will look like throughout the transition, and then there should be a consideration for a balanced scorecard that measures the progress of the goals you want to achieve. It is a great tool for facilitating communication, prioritization and performance improvement.
By: Pearl Zhuhttp://www.blogger.com/profile/[email protected]
Sourced From: futureofcio.blogspot.com/feeds/2747370405435176205/comments/default
Published Date: Wed, 01 Dec 2021 00:52:00 +0000
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