Descriptive Analytics II: Business Intelligence and Data Warehousing - Balanced Scorecards
5 important questions on Descriptive Analytics II: Business Intelligence and Data Warehousing - Balanced Scorecards
What is a balanced score card (BSC)? Where did it come from?
It comes from a methodology designed by Kaplan and Norton, 1992. "Measures that drive performance" in 1992 and later in 1996; "Translating strategy into Action", that documented how companies were using BSC als for communicating and implementing their strategies.
What are the 4 perspectives that BSC suggests to view organizational perspectives?
- The customer perspective: metrics for satisfaction
- The financial perspective: financial, risk assessment, cost-benefit data
- The learning and growth perspective: "to achieve our vision, how will we sustain our ability to change and improve?" Metrics focusing on training funds, mentors, tutors..
- The internal business process perspective: focus on importance of business processes. Allow the managers to know how well their internal business processes and functions are running.
Why do we need to define separate objectives, measures, targets, and initiatives for each of these 4 BSC perspectives?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What is meaning and motivation for balance in BSC?
- Financial and non/financial
- Leading and lagging(achterblijvend)
- Internal and external
- Quantitative and qualitative
- Short term and long term
What are the differences and commonalities between dashboards and scorecards?
but sorecards are also a management methodology
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
