The Balanced Scorecard System is designed to help you identify
and improve areas in your business or organization that are
underperforming. To use a Balanced Scorecard you need to follow
these steps:
- Know and understand your company's mission and vision
statement.
- Determine the financial performance of the business.
- Determine the operational structures within your business.
- Determine the skills levels of your employees.
- Determine the customer satisfaction levels.
- Analyze the results for each performance area.
- Draw-up action plans for underperforming areas.
- Follow-up and communicate outcomes.
- Repeat from step 6 with every cycle (monthly, quarterly or
annually).