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ed scorecard meaningful priorities can be set.,Resources allocated accordingly,4. Feedback and Learning,Expands on the traditional financial focus,Can monitor results from three more perspectives,Can evaluate strategy in light of performance in all four areas,Modify strategy to reflect realtime learning as opposed to modifying strategy during the annual strategic plan meeting,New Management Processes,The Balanced Scorecard,The balanced scorecard is more than a performance measurement technique.,Innovative CEOs used the balance scorecard not only to clarify and communicate strategy, but also to manage strategy.,They are using the measurement focus of the scorecard to accomplish critical management processes.,The Balanced Scorecard,Clarify and translate vision and strategy,Communicate and link strategic objectives and measures,Plan, set targets, and align strategic initiatives,Enhance strategic feedback and learning,Kaplan/Norton,The End,If you have questions or comments regarding this presentation, please feel free to contact Mike Werner at mwernermiami.edu or by phone at 3053211139 .,。The Balanced Scorecard,What is Business Success?,Solid financial performance?,Balanced Scorecard Refocuses Management,Financial perspective,Customer perspective,Internal perspective,Learning and Growth perspective,The Balanced Scorecard,Developed in 1992 by Robert Kaplan and David Norton,Kaplan and Norton’s Premise,“…exclusive reliance on financial measures in a management system was causing organizations to do the wrong things.”,Popularity,Employed by half of Global 1000 (According to Bain amp。 Company),“One of the most powerful management ideas ever” (Harvard Business Review),Most requested and 1 in sales at Harvard Business Publishing,The Balanced Scorecard,Originally developed as a measurement tool,Also helps companies manage and implement strategy,The Balanced Scorecard,Based on corporate strategy,A balanced plan for business,More than a financial plan,(Robert Kaplan and David Norton),Basic Business Strategy,Financial We will ensure that we use our resources and people to maintain financial success.,Customer We will meet or exceed our customers’ current and future expectations and requirements with high quality products, reasonable prices and superior service.,Internal We will provide high quality ontime imaging products and services and provide an efficient and effective means to deliver them in a high quality fashion.,Learning and Growth We will attract and retain high caliber people and promote an environment that develops their interpersonal, business and technical skills and knowledge. We will strive to develop and maintain the best sourcing for our products. We will strive to be aware and on the cutting edge of imaging and business technology.,The Trouble with Strategy,It is unlikely th