Balanced Scorecard Basics – Critical Questions
A simple Balanced Scorecard can be designed and run to measure business-critical performance areas, with a focus upon four very different, but complimentary, delivery assessments:
- How do customers see us? What customer satisfaction scores are we achieving, what is our customer response time and how big is our market share? Very importantly, what % of our business is repeat business?
- What must we be really good at? What are our new products or services going to be? What projects are currently in development and what will they bring us?
- Can we continue to improve and create value? Are we actively innovating our services for future growth? Are we actively learning from our development? What 5 of our revenue comes from new products? What revenue per member of staff are we generating? What % of our staff are at least semi-skilled?
- How are we performing financially? What is our return on capital employed in the business? What does our cash flow look like?
Tricky, but necessary, questions that uncover areas for development but which will drive you onwards!
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