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    Balanced Scorecard For Partnerships (Sample Included)

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    Powerlinx
    *Original PDF available by clicking Download* The Balanced Scorecard (BSC) is a framework used by organizations to measure performance. First introduced in 1992 by Robert S. Kaplan and David P. Norton, the BSC incorporates a mix of performance measures in four categories: financial, customer, internal processes and learning & growth. By 2004 the balanced scorecard had been adopted by more than 50% of global businesses, according to Bain research. While first developed as an internal management tool, the BSC has also been adopted for use with partnerships. This document will give you some ideas for constructing a BSC for your partnership.

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    Balanced Scorecard For Partnerships (Sample Included)

    Uploaded by

    Powerlinx
    4K views4 pages
    *Original PDF available by clicking Download* The Balanced Scorecard (BSC) is a framework used by organizations to measure performance. First introduced in 1992 by Robert S. Kaplan and David P. Norton, the BSC incorporates a mix of performance measures in four categories: financial, customer, internal processes and learning & growth. By 2004 the balanced scorecard had been adopted by more than 50% of global businesses, according to Bain research. While first developed as an internal management tool, the BSC has also been adopted for use with partnerships. This document will give you some ideas for constructing a BSC for your partnership.

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    Balanced Scorecard for Partnerships (Sample Included)

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    *Original PDF available by clicking Download* The Balanced Scorecard (BSC) is a framework used by organizations to measure performance. First introduced in 1992 by Robert S. Kaplan and David P. Norton, the BSC incorporates a mix of performance measures in four categories: financial, customer, internal processes and learning & growth. By 2004 the balanced scorecard had been adopted by more than 50% of global businesses, according to Bain research. While first developed as an internal management tool, the BSC has also been adopted for use with partnerships. This document will give you some ideas for constructing a BSC for your partnership.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    4K views4 pages

    Balanced Scorecard For Partnerships (Sample Included)

    Uploaded by

    Powerlinx
    *Original PDF available by clicking Download* The Balanced Scorecard (BSC) is a framework used by organizations to measure performance. First introduced in 1992 by Robert S. Kaplan and David P. Norton, the BSC incorporates a mix of performance measures in four categories: financial, customer, internal processes and learning & growth. By 2004 the balanced scorecard had been adopted by more than 50% of global businesses, according to Bain research. While first developed as an internal management tool, the BSC has also been adopted for use with partnerships. This document will give you some ideas for constructing a BSC for your partnership.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    The Balanced Scorecard

    for Strategic Partnerships


    The balanced scorecard provides a framework in which you can record the
    objectives and corresponding performance indicators of your partnership.

    The Balanced Scorecard: An Overview


    The goal of the BSC is not to give volumes of details; rather, it is used to:
    Record information needed to solve only the most important issues
    Direct attention to where it is needed
    Ultimately, to guide you toward the right solution
    In short, the BSC can help you define and clarify the set of objectives that you
    wish to focus on so you can tailor a reporting system to the specific challenges
    and activities of your partnership. Additionally the BSC helps to show balance
    between the categories of measures, which will show you whether you are
    putting too much focus in one category over another.

    Formulating Your Objectives


    The BSC is constructed to help you clearly visualize your goals in relation to one
    another, and track your progress. In order to do that, each objective included in
    your BSC must incorporate the following four elements:
    An objective you aim to achieve through your partnership; descriptive
    Exp: Our objective is to increase customer satisfaction with product
    A measure tied to that objective; descriptive
    Exp: We will measure customer satisfaction with Product X through
    customer surveys
    A target, which is the minimum level of desired performance on a
    measure and the time frame in which that target should be reached (i.e.
    per month, quarter or year); numerical
    Exp: We expect to achieve a 90% satisfaction rating from our surveys
    An initiative, which outlines how you will go about achieving that target;
    descriptive
    Exp: The initiatives we will follow to achieve customer satisfaction
    include offering 24/7 customer support and 3 year warranties on our
    products
    2015 Powerlinx

    The Balanced Scorecard Categories


    Each objective included in your BSC must fit into one of the four BSC categories.
    Lets take a look at these categories and the question each is designed to
    answer.

    Financial
    What do we need to achieve to succeed financially?
    Some examples of objectives to list in the financial section:
    Cash flows
    Revenue generated
    Serving your audience at the lowest possible cost
    Have $X of cash flows attributable to the partnership activities
    Grow combined IP value by $X

    Customer
    To achieve our vision, how should we appear to our customers?
    Be specific, as these will be the numbers you will use to determine partnership
    success or failure.
    Examples:
    Customer satisfaction
    Brand recognition
    Market share
    Customer counts and objectives
    Customer retention
    Growth of customer bases

    2015 Powerlinx

    Internal processes
    To achieve our goals, at what business process(es) must we excel?
    Examples:
    On-time production of marketing materials
    Increases in product quality
    Uptime of machinery/equipment
    On-time product/service delivery

    Learning and Growth


    How will we sustain our ability to change and to improve?
    Examples:
    Regular check-ins on progress
    Do we have the right employees to accomplish our objective(s)
    If so, how well are they doing at their job
    Is additional knowledge and/or training required?
    Note: All items in your balanced scorecard should include measurable activities
    that you can hold your people/department/function accountable to. They should
    not be immeasurable goals, aspirations or generic activities, but concrete actions
    you can quantify, which will assist you in determining performance progress by.

    2015 Powerlinx

    Balanced Scorecard Example


    Enough talking about the BSC in theoretical terms. Heres a practical example of
    a BSC for a partnership:
    Company X specializes in creating signage for small businesses such as
    posters and banners. Company Y is a catering company that specializes in
    business/corporate parties.
    In this simplistic example, Company X partners with Company Y to provide
    festive banners for every event catered by Company Y. Heres what their BSC
    looks like:

    2015 Powerlinx

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