Balanced Score Card

Precast Consulting Service
Finance, Marketing & Operations

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Playing with an incomplete scorecard,
is worse than useless
.Balanced Scorecard
A Strategy Tool for the Precast Producer

What's this all about?

How do you formulate and communicate strategy throughout the organization?
How do you align the organization so that everyone is working efficiently toward the same ends?

These have proven to be the key questions that separate performing organizations from those that have the same strategies and inspirations but year after year keep doing the same thing; and continue achieving mediocre results.

The most significant contribution to management practice in the last 75 years

The Balanced Scorecard came into being about 10 years ago as a method to help companies manage their increasingly competitive business environments. In response to the shortcomings of traditional management by financial performance measures, Professor Robert Kaplan and David Norton began to shape the concept of the Balanced Scorecard during a research project with 12 companies. They understood the limitations of relying too much on purely financial measures. They realized that many of the ways to improve short-term financial performance—such as reducing head count, and cutting expenses for training, marketing, and customer service—might be detrimental to the future financial health of the company. They introduced the Balanced Scorecard for companies to set strategy and measure and report performance in a way that balanced the following:

Multiple perspectives.
Both leading and lagging indicators.
Inward-facing measures, like productivity, and also outward-facing measures, like customer loyalty.

The results of their initial research work with 12 companies was published in 1992 in the Harvard Business Review. Fueled by the positive response to their initial article and successful consulting work, Kaplan and Norton continued to develop the concept of the Balanced Scorecard, and published a book, The Balanced Scorecard in 1996. When Kaplan and Norton’s second book, The Strategy Focused Organization was published in 2001, the editors of Harvard Business Review hailed Balanced Scorecard as one of the most significant contributions to management practice in the last 75 years.

Strategy development can be difficult and seemingly nebulous. With Balanced Scorecard you can be confident that you will not waste your time going down the wrong path.

As an outgrowth of our work in Benchmarking for the Precast Producer, we have adapted Balanced Scorecard for the Precast Producer.

> For details of how Balanced Scorecard works, click here.
(Acrobat file, will take a few moments to download)

> For details on Benchmarking your firm, click here.

What can Precast Consulting Do?

Bring you structured methods to benchmark your firm. - Know where you stand.
Apply Balanced Scorecard to your firm.
Show what's worked elsewhere.
Improve your Return on Investment, Improve your profitability
It's not magic, it's mathematics

Credentials

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The Balanced Scorecard helps
each person on the team excel

Management professionalism for the Precast Industry