Service: Balanced Scorecard
Today’s organizations are faced with a competitive environment of increased customer/ client and service expectations coupled with resource restrictions of people, technology and tangible or intangible assets. There is pressure to provide innovative products and services that meet or exceed customer or client expectations.
The Balanced Scorecard process is an effective business tool that provides a structure to link an organization’s vision and mission with the achievement of objectives, measures and targets.
All organizations, whether corporate, nonprofit or public sector have annual budgets and revenue projections. This financial forecast, however, does not address the knowledge, tools, skills and methods to achieve these requirements.
The Balanced Scorecard methodology emphasizes the management of operating performance rather than simple review of the financial results of that performance. The "balance" is created by viewing an organization's performance from four perspectives:
- Financial Outcomes
- Customer/ Client Value
- Internal Business Processes
- Learning and Growth
People, processes and procedures must be integrated with the overall strategy and long term objectives to achieve breakthrough performance results. Employees need to understand how their day-to-day performance assists the organization realize their plan.
nanoQuest inc. facilitates the process of establishing specific goals or objectives for each perspective and linking them to the overall vision, mission and long term strategy. We assist in developing, training and coaching staff to establish performance goals, metrics and action plans leading to a successful outcome.