Balanced Scorecard Model

Question 1

What is it used to do?

Answer 1

To assess business performance and in developing, implementing and monitoring strategy.

Question 2

What data does it use?

Answer 2

Financial and non-financial

Question 3

What are the four perspectives?

Answer 3

Financial perspective
Internal business process perspective
The learning and growth perspective
The customer perspective

Question 4

What is the 5 step process?

Answer 4

Question
Objective
Measures
Target
Initiative

Question 5

Question?

Answer 5

Asking questions

Question 6

Objective

Answer 6

Put in overall objective. e.g increase profitability

Question 7

Measures

Answer 7

What is your measuring to see if profitability is increased? E.G. ROCE

Question 8

Target

Answer 8

Quantitative number to reach e.g. increase by 3%

Question 9

Initiative

Answer 9

How exactly are you going to change to reach this target? e.g. staff training