Balanced Scorecard Example Definition

Balanced Scorecard:

Most businesses have a set of metrics that they follow periodically.  The balanced scorecard forces the Operational Excellence Steering Committee (SC) to determine 10–15 key metrics only that drive the business.  These metrics are found by determining goals and objectives in the five priority areas (safety, quality, productivity, human development and cost). General balanced scorecard example metrics can be seen below.

The BSC planning process involves setting targets for these objectives (expressed as metrics) for the next five years.  This five year plan is called the “balanced scorecard.”  The “balanced scorecard” is also the name we use for the centrally located board that holds the charts for the metrics, the top three monthly problem summaries, the associated problem solving sheets for those problems and any supporting daily information.

The visual balanced scorecard is a one year visual management tool for the 5-6 year balanced scorecard.  Below you will find example balanced scorecard metrics as well as example balanced scorecard photos.

Balanced Scorecard Example Metrics

Safety: OSHA ratio and lost time visualized via the green cross.  Support: Safety Pat and safety system audit scores.

Quality: Internal error rate and external error rate.

Productivity: On-time shipment per plan.  Number of units produced.

Human Development: Number of suggestions, flexibility, and attendance.

Cost: Scrap rate, budget versus actual, and inventory turns.

Operational Excellence: Operational Excellence Audit.

Balanced Scorecard Example Photos

One balanced scorecard example photo is shown below.  For more photos and the most updated balanced scorecard example photos check out our Facebook photo album here.

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balanced scorecard example