View an organization from the four perspectives given below:
Learning and Growth
Process of Implementation
Put the vision and strategy of the organization in the center and work out all the other details from the above-mentioned four perspectives around them.
Under each perspective ask questions as given against e ach points and decide objectives, measures, targets and initiatives for that specific perspective.
Financial perspective: What should we do to succeed financially with reference to our stake holders? What will be our objectives? How will we measure? What are the quantifiable targets then? What initiatives should we adopt to go about achieving them?
Customer perspective: How should we relate to our customers to meet the top level vision and in line with strategies? Then decide about objectives, measures, targets and initiatives as we did for financial perspectives.
Business processes perspective: What business processes we should be best at and improve in order to satisfy the stake holders and customers? Subsequently decide the objectives, measures, targets and initiatives in businesses processes area.
Learning and growth perspective: How will we ensure sustenance to learn, improve and grow to meet the vision? Then, work out the objectives, measures, targets and initiatives for this.
These processes should be followed at each hierarchical level of an organization.
The appraisal of departments and people can be done by scoring out the actual performancesvis-a-vis planned. Also, corrective actions can be initiated in time.
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Courtesy: Balance Score Card Organisation.