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Balanced Scorecard
Steven J Ojala, Ph.D.
The Balanced Scorecard
• What is it?
Definition:
The Balanced Scorecard is a
management tool that provides
stakeholders with a comprehensive
measure of how the organization is
progressing towards the achievement of
its strategic goals.
The Balanced Scorecard
• Balances financial and non-financial measures
An Example
Balanced Scorecard Example
FINANCIAL PEOPLE
We deliver tremendous medical value in a Creating device leadership using our most
responsible, predictable manner valuable assets
KEY STRATEGIES: KEY STRATEGIES:
Increase revenue through innovative
device technology Hire, develop, and maintain appropriate
Metric: resources to achieve mission, vision,
•
Quarterly sales in devices strategic intent and objectives.
Deliver devices with minimal resources Metrics:
(headcount and dollars) 1) % Training current
Metric: 2) % Development plan completion
• Total headcount and dollars
Accurately predict financial expenses
Metric: Maintain a work environment that is
• Adherence to Internal and External expense attractive to members of the team.
Plan and Capital Spend Plan. Metrics:
1) Employee Satisfaction (quarterly survey)
Provide devices that are profitable and consistent
with corporate FMC targets 2) % positions 3 yrs in role
Metric:
• Adherence to Internal and External expense Plan 3) Safety Record
and Capital Spend Plan