In this newsletter, I would like to discuss the importance of THE BALANCED SCORECARD.
At its core, a balanced scorecard is a performance metric used to identify and improve various internal business processes and functions and their resulting external outcomes. Balanced
scorecards are used to measure and provide feedback inside your organization. Data collection is crucial to providing quantitative results as managers and executives gather and interpret the information and use it to make better decisions for the organization.
Here are some of the foundational values of a Balanced Scorecard as you build your
• Operational Excellence is a mindset of Process Based Management leading to continuous business improvement.
• The Balanced Scorecard is the mechanism for which we align individual and organizational goals.
• The Business Improvement Process is how management measures success and creates strategic and action plans to improve elements that are currently below goal.
• Review how the Balanced Scorecard approach supports your organizational vision.
• Development of a top-down approach that aligns the goals of the corporation with every individual within the organization.
• Review the Business Improvement Process and how it employs a Processed Based Management structure to identify measures that will drive bottom line results.
The best Balanced Scorecards create a top-down, bottom-up performance measurement process which aligns individual and organizational goals. The process includes a comprehensive reporting system, supporting quarterly business planning reviews and weekly profit center planning meetings reviewing results and determining corrective action plans for business
elements off goal.
For additional information on creating and managing your balanced scorecard process reach out to me at [email protected]
Interview – St. John’s University’s Professional
I received a call from St. John’s University’s Alumni director about their Professional Development Series. Their series provides online learning from top alumni and industry experts. The St. John’s Corporate and Foundations group hand-selects individuals who discuss topics for business professionals seeking professional growth and those interested in learning about the latest trends in their industries. I was honored to be selected and appreciated the opportunity to give back to the many alumni and business professionals who may find this conversation to behelpful.
I hope you enjoy the conversation, narrated by two-time Emmy Award winning supervising producer, Nicole O’Neal, from The Dr Oz and the Today Show. During our conversation we touched on many topics that I hope you will find helpful, educational, entertaining, and that will create some AHA moments for you.
” You have a responsibility to model effective leadership along with honest and ethical behavior to the employees you represent. Open and honest communications and visibility are an important element of trust. Make sure you are available to your people and visible in your operations or department.”
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Rocky was recently interviewed by a British TV outlet, BV-TV, for the Achiever Leader Show. You can view that video at the homepage at 3SixtyManagementServices.com.
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Our Book, Tighten The Lug Nuts: The Principles of Balanced Leadership – https://tightenthelugnuts.com/
List of 23 Leadership Competencies – https://www.3sixtymanagementservices.com/
Coaches Corner – https://www.3sixtymanagementservices.com/category/leadership-training/
Rocky has gone virtual!
Contact Rocky today to lead your strategy sessions, rapid rebuild plans and communications with your teams. He is available virtually today and live in the not-too-distant future.
Contact Rocky for details at [email protected], and or 610-322-0720 to schedule your session.
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