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Balanced Scorecard
Metrics, Metrics, Metrics
Value-Driver-Action
7S
Implementation Control
100
A balanced scorecard considers a wide variety of these when evaluating the performance of a company.
What are stakeholders?
100
The most fundamental issue when creating useful metrics.
What is ensuring metrics are directly tied to the mission/vision of the company?
100
One of the two types of actions from the actions list.
What is either: -Actions that immediately address stakeholder experiences taking advantage of existing resources -Actions to build new resources to address stakeholder experiences and long-term aspirations
100
This hard S concerns the formal and informal organization of the company.
What is structure?
100
The first key to implementation control that focuses on alignment of the company’s strategy, structure, and value chain.
What is fit.
200
This is the central notion of a Balanced Scorecard.
What is the idea that financial measures of performance are the result of the activities in which people in the company engage?
200
A company effectively using metrics is sure to have both of these types.
What are qualitative and quantitative metrics
200
This begins with each statement listed in the stakeholder experience section.
What is an action list.
200
This soft S begins with top management
What is Style?
200
One of the two advantages of clear and compelling objectives.
What is: -Employees feel they have the ability to achieve the objectives -Break down high level objectives into definable metrics
300
The metrics that measure the results we expect for each subdivision.
What are lead metrics
300
Related metrics are best to try to establish this type of logic pertaining to levels or employees.
What is casual logic.
300
Three of the five components
What are (any 3): -identify key value drivers that will lead to a competitive advantage for the business -outline the position the company wants to occupy from the perspective of customers, suppliers, employees, and other stakeholders -translate desired stakeholder experience to business/market position -create a list of actions to be taken, both short-term and long-term that answer the question of what must we do now to ensure success -develop metrics that measure progress toward the accomplishment of each value driver
300
This Hard S is comprised of the vision and mission statements.
What is the Superordinate Goal?
300
The third step involves rewarding as many people as possible with this which is also part of the step's name.
What is (a single company) currency?
400
Two of the three dimensions in the balanced scorecard model.
What are: - Driven by strategy - Used to address the cause-and-effect logic across four levels of the organization - Used to delineate both lead and lag metrics
400
When uniting employees towards a goal these types of metrics are used.
What are performance based incentives
400
Two of the three sources key value drivers can be identified by.
What are: -The list of key success factors developed through industry analysis (current industry demands) -The resource-based analysis that pinpoints extraordinary resources (current company capabilities) -The vision and mission statements (future company aspirations)
400
7-S framework is a method for examining the various aspects of the organization in an effort to do this.
What is achieve alignment?
400
This step includes people, finances, equipment, knowledge, and time.
What is the fifth step, resource allocation.
500
Three of the 4 levels of an organization which are connected in a cause-and-effect fashion.
What are: -Learning and growth -Internal processes -Customer -Financial
500
Metrics should guide the internal activities of the business in order to maintain this.
What is strategic consistency.
500
Part of one of the five components, this is also a crucial part of each key value driver.
What are a set of statements that the company aspires to hear from its stakeholders, which would indicate that the company has met its goals
500
The difference between hard and soft S's
What is easy to find in writing compared to harder to nail down.
500
This is the fourth step but it could be mistaken for a top priority.
What is Top Management Involvement.