Balanced Scorecard KPIs Examples Reports
Balanced Scorecard Key Performance Indicators Examples: The balanced scorecard is a tool you can use in your organization to monitor performance against your company’s strategic goals. Furthermore they can help you to improve your organization’s performance by looking at performances that matters and analyze the ones that are currently having the greatest impact on your company.
Both the key performance indicators and balanced scorecard helps your organization to put metrics in place. That will help to measure the different areas of organization’s performance. You will then analyze these metrics to see how your organization can possible improve. To track key performance indicators, using a balanced scorecard can be quite useful.
It will allow you to put your data in visualized format that can make it easy to interpret and communicate with your team. In the balanced scorecard there are 4 perspectives you can measure under and analyze. These are financial, customer, internal process and learning and growth. You can see each in a little more detail below.
You are going to track your company’s financial performance.
Track your customer’s attitude, market, retention rate etc.
This is where you are going to set internal operational objectives in order to achieve your company’s goals.
Learning and growth
Set goals to train your employees, put programs in place to help them develop certain skill and investment in human capital. This also has to deal with investing in innovation to help your company capitalize on opportunities.
You can then link the different performance measurements together, to get a better perspective on your organization’s performances. You can see an example of one below.
You have a lot of different balanced scorecard key performance indicators you can set for your company. Below you can see list of them under each category.
Balanced Scorecard Key Performance Indicators Examples:
• Increase the market share by 10% in 12 months
• Reduce the level of our total expenses in 3 years
• Increase our sales numbers by 5% in 7 months
• Increase our revenue from our new product features in 1 year
• Raise $20,000,000 from venture capitalist in 12 months
• Increase our percent of sales from new customers by 5% in 6 months
• Try to reduce the rate of our on time delivery in 10 months
• Turn at least 10% of our customer base into lifetime customers in 12 months
• Increase the effectiveness of our customer service in 18 months
• Reduce our marketing expenses by 10% in 12 months
• Reduce our manufacturing cycle time rate by 10% in 3 months
• Make our labor force more productive in 18 months
• Purchase new IT equipment to help track our inventory in 9 months
• Purchase new advanced manufacturing equipment to help our processes run more efficient in 12 months
• Reduce our work in process inventory by 10% in 6 months
Learning and growth
• Invest 10% more of our profits back into research and innovation in 10 months
• Patent 90% of our new technological innovations in 9 months
• Invest 5% of our profits into employee training in 11 months
• Try to maintain our 5% company’s yearly growth within the next 5 years
• Reduce our current product development time by 10% to try and capitalize on the new opportunity in the next 6 months
These are just some of the many balanced scorecard key performance indicators you can set in your organization. These tend to vary by company because they all have different goals and objectives. Make certain that all your key performance indicators are measurable and attainable.
Create Balanced Scorecard Key Performance Indicators Reports by Using Excel Templates
After all those metrics are in place, after each cycle is finished. You can analyze them to see the different performances which will greatly impact your decision making. This will assist you in how you should take your company forward.