What's this all about?
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:
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?
The Balanced Scorecard helps
each person on the team excel