Balanced Scorecard

What is a Balanced Scorecard?

Balanced Scorecards develop a simple framework for performance measurement and management that reflect both leading and lagging indicators of performance in an organisation, rather than simply the lagging financial performance indicators that have dominated for decades.

Performance against related key performance indicators (KPIs) is highlighted using "traffic lights" to convey a lot of performance management information in a very concentrated form.

However, one thing that a Balanced Scorecard should not be is merely a collection of KPIs. What distinguishes a good Scorecard from a mediocre one is the degree of intellectual rigour that has gone into its design. Find out more about the Principles of the Balanced Scorecard

At Bellis-Jones Hill we use Prodacapo to make well-designed Balanced Scorecards that help employees understand the link between their own actions and decisions to the strategic direction of the organisation they work for. This is achieved by expressing the strategic direction of the business in terms of Critical Success Factors (CSFs).

Performance Management

Once these have been identified it becomes invaluable to understand the extent to which a management team perceives that it is performing well against them, or not.

From these CSFs flow the related performance measures and management targets against which performance can be monitored on a routine basis using your Balanced Scorecard. When we then show you how to react by using visible action plans, the Balanced Scorecard is turned into a true management performance tool.

Balanced Scorecard Training

If they are to deliver real value, organisations need to ensure that Balanced Scorecard implementation projects ensure that these systems become performance management tools.

Many organisations fail to deliver value because, having identified and measured critical success factors they do not then go on to link the outcomes to actions.

Bellis-Jones Hill runs a series of Balanced Scorecard training workshops and courses which will help anyone thinking of introducing or working on a balanced scorecard project to avoid these pitfalls. For further details on this and any Balanced Scorecard queries please contact us on 020 7458 4208.

For any more information about how Bellis-Jones Hill can help your organisation with world-class Balanced Scorecards, email Performance@bellisjoneshill.com, or call us on 0207 458 4208