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Hari
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This gave a clear cut idea about what the Balanced Scorecard really means. But how can we evaluate or judge the efficiency of the Balanced Scorecard, management concept? How can we evaluate the efficiency of using the Balanced Scorecard concept? (...) Read more? Sign up for free
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Beben
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Determining the Efficiency of BSC
How to evaluate the efficiency of BSC? Simply from your company achievements..
Does your company fulfill the target in all areas (Financial, Business process, Customer and Learning & Growth)?
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Paul Maguire
Business Consultant, United States
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BSC Efficiency
The term “efficiency” speaks to the cycle time – how quickly an object (organization, person, or product, etc.) is transformed.
The term “effectiveness” on the other hand, speaks to how well the process is performed; the quality, the low variance, the outcomes, etc.
The Balanced Scorecard can have positive impact on both of these aspects through organizational alignment and performance results against targets.
A concrete example of how this can work is the rationalization of initiatives – inventorying against the initiatives, stopping duplicative initiatives, initiating new projects where gaps exist and prioritizing.
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