How Do I Use It?

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:

  1. Know and understand your company's mission and vision statement.
  2. Determine the financial performance of the business.
  3. Determine the operational structures within your business.
  4. Determine the skills levels of your employees.
  5. Determine the customer satisfaction levels.
  6. Analyze the results for each performance area.
  7. Draw-up action plans for underperforming areas.
  8. Follow-up and communicate outcomes.
  9. Repeat from step 6 with every cycle (monthly, quarterly or annually).