Section 3 Balanced score card

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Course Project: Developing a Strategic Plan

Tools for Strategic Planning—Balanced Scorecard and Other Tools

Effective leader-managers seek to understand how a proposed strategic change may affect performance and follow up with sound analysis to evaluate progress throughout implementation and assess the costs and benefits.

This week, you examine the use of performance metrics to gauge an organization’s standing and the impact of changes on finances, customer/client satisfaction, internal business processes, and learning and growth within a group, unit, or organization. For your Course Project, you begin to develop a balanced scorecard to measure performance related to your proposed change.

Section 3: Balanced Scorecard

Managers, like pilots, need instrumentation about many aspects of their environment and performance to monitor the journey toward excellent future outcomes.

—Robert S. Kaplan and David P. Norton,
The Balanced Scorecard: Translating Strategy Into Action

To prepare:

As introduced in Week 8,continue to refine your balanced scorecard. (Refer to Week 8 for the preparatory instructions as necessary.) Your balanced scorecard is one tool you can use to evaluate the effects of your planned change on performance.

To complete:

Section 3: Balanced Scorecard

As you continue to develop your Course Project, it is important to consider how to evaluate the effects of your planned change on performance. Based on the work you have done thus far on your Course Project, this week you create a balanced scorecard.

To prepare:

  • Review your work on the summary of the issue and SWOT analysis from previous weeks.
  • Review the information about and examples of balanced scorecards presented by Dr. Carol Huston in this week’s media program and in the other Learning Resources. Conduct additional research to see additional examples of balanced scorecards and to deepen your understanding of how balanced scorecards are used in various organizations.
  • Reflect on the comments related to balanced scorecards exchanged in this week’s Discussion.
  • Conceptualize a balanced scorecard that could be used to measure and evaluate the impact of your planned change on performance, and determine if the costs are justified in terms of the outcomes. Consider what you would measure in terms of finances, customers, internal process, and learning and growth.
  • Think about how you would gather valid and reliable data.
  • Begin to create your balanced scorecard, which will be submitted next week.
  • Create a balanced scorecard that could be used to measure and evaluate the impact of your planned change on performance, and determine if the costs are justified in terms of the outcomes.
  • Include what you would measure in terms of finances, customers, internal process, and learning and growth

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