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washington mehlo, Zimbabwe
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Formula to Calculate Balanced Scorecard
What fomula do you use to calculate the BSC?
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Jaap de Jonge
Editor, Netherlands
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Balanced Scorecard Formula These is no one-size-fits-all formula to calculate the Balanced Scorecard.
Rather, depending on the company, it's strategy, etc., you define for each of the 4 perspectives a number of objectives along with their measurements (calculation).
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Emmanuel Reyme, United States
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Formula for BSC: PDCA and DARE Instead of using a formula, apply the PDCA model for performance improvement.
Plan - Do - Check - Act.
This model will fit every type of organization. Use common sense, it is very basic. Whatever you do, it must be planned then implemented. Now, time is for the evaluation (check) of the implemented idea and act accordingly.
In that same logic, without having before the concept of the PDCA, I created the DARE process for my consulting firm. It is based on the same logic of the scorecard. Consultant and clients Discuss for a viable Assessment; clients Retain or Reject based on assessment analysis, consultant Evaluates and/or clients Execute.
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DUBE PROSPER
ICT Consultant, Zimbabwe
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Formula for BSC? The balanced score card is not a math expression but a strategic approach and performance management tool. So there is no formula! But you can breakdown your business into 4 perspectives, (financial, customer, business process, learning and growth) and you then you map your strategies by answering such questions as: to succeed financially, how should we appear to our shareholders? And to our customers? You then assign objectives, metrics, targets and initiatives for each of these perspectives.
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Murambadoro Patrick, Zimbabwe
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BSC Measurement Using the four basic perspectives one can go back to each division in the organisation and set objectives e.g. 45% market share,75% capacity utilisation etc.
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Paul Maguire
Business Consultant, United States
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BSC Formula & PDCA The Balanced Scorecard is a philosophy, framework, methodology and management approach for developing and executing strategy and as stated above, each organization will have a different set of strategic imperatives translating into a unique combination of objectives, measures and targets. The PDCA cycle a la Shewhart & Deming is a problem solving approach. I have also used it to depict a learning cycle and I also find it useful in project management - at the task, project or program level.
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