A balanced scorecard is a management tool that enables company leaders to communicate their vision and strategy throughout their organization in terms of measurable actions. Strategy drives all processes in a balanced scorecard, and therefore the strategy must be clear and contain concise objectives and measurable targets.
Objectives and measures impact employee behavior: what you measure is where people will focus their attention! Traditional financial measures alone do not provide enough information to properly manage complex organizations operating in complex environments. Managers need a balanced presentation of key performance indicators (KPIs) to manage information from diverse areas.
Balanced scorecards must also be flexible and adaptable in spite of dynamic internal and external environments, so that you can concentrate on future performance instead of retrospective “task“ or “cost object“ oriented measures.
- Articulate the business’ vision and strategy, and implement an operational strategic plan.
- Identify performance categories (perspectives), and use the organizational structure from HRM to establish matrix dimensions in your balanced scorecard.
- Implement strategy including measurements and targets for your strategic objectives
- Use automated measurements from Microsoft Dynamics™ AX data or from another data source by using a data link
- Collect soft values from the Microsoft Dynamics™ AX Questionnaire module.
- Accessible output tools include reports, statistics and graphical evaluators which can be viewed either from the Microsoft Dynamics™ AX application or on the Enterprise Portal. Decision-makers at all levels can quickly access accurate information that is directly and immediately relevant to them.
- Microsoft Dynamics AX is a registered trademark of Microsoft Corporation in the United States and/or other countries.