Post by etikhatun669911 on May 2, 2024 4:44:52 GMT
The BSC (Balanced Scorecard) is usually considered as a measurement system of the key operational performance of a company or organization. In fact, this is one of the main tasks and one of the most important tasks reserved for the balanced command team. However, CMI is more than just a measurement system. The Balanced Canadian Hospitals Email List Scorecard as a Performance Measurement System On previous occasions, we have discussed the Balanced Scorecard in detail, explored how to design and implement the Balanced Scorecard, studied its different viewpoints, listed its main components, and considered some of its applications in the business intelligence context.
Regarding the latter, and especially regarding the elements that make it up, we delve into 2 fundamental and closely related components: KPIs or Key Performance Indicators Performance Indicators phins120895 Since KPIs are the core element of the Balanced Scorecard structure, and Performance Indicators are fundamental Tools that enable us to measure the performance of processes and activities related to the intended progress of corporate strategy development, it is clear that one of the key functions performed by CMI is to establish itself as a performance measurement system. However, as we will see below, it plays a role in a corporate environment that goes far beyond mere simple measurement. CMI : a management system When we say that the balanced scorecard transforms corporate strategies into action plans and corporate activities, and communicates the adopted strategies to all levels and members of the organization, we summarize that the balanced scorecard is first and foremost a management system. Performance measurement is therefore only one of the many processes carried out in the scorecard (and certainly one of the most important); yes, it is one of the main activities for which the WCC is primarily responsible, but this in no way achieves the ultimate goal that the scorecard points to. Target.
If, on the other hand, we try to describe its basic purpose, we also notice the strong characteristics of the management system presented by the balanced scorecard : As we have already mentioned before, the scorecard translates corporate strategy into operations. It therefore allows the alignment of the organization's processes and activities with the defined strategy. It communicates and communicates the corporate strategy and the changes it makes to all levels of the organization. It complements financial indicators with non-financial ones, possible scenarios of tangible processes with the measurement of intangible processes, predicting opportunities. It stabilizes the results and sustains them over the long term: thus trying to keep the necessary balance between strategy and results for medium and long-term decisions. Remember that everything said here will be explained in more depth and detail in the free guide 10 Keys to Defining the Balanced Scorecard , which can be downloaded without restrictions in the Resources and Training section of Lantares . Related articles: Finance and process: A comparison between two key perspectives of the CMI budget cycle, another big challenge for BI platforms 5 practical and effective ways to ensure customer loyalty .