The balanced scorecard (BSC) is a strategic planning and management system that facilitates organizations to communicate and align around strategy, prioritize, and measure performance. At Virgon Africa, we enhance organization alignment through strategy using the strategy map, performance measures and targets, and initiatives. We help our clients cascade the corporate-wide scorecard (referred to as Tier 1) down to first business units, support units or departments (Tier 2) and then teams or individuals (Tier 3). We have supported businesses, governments, and nonprofit organizations to use the balanced scorecard system to:
- Break down intangible strategic vision into specific, actionable steps
- Communicate what they are trying to accomplish
- Get everyone focused on strategy – by aligning day-to-day work with strategy
- Prioritize projects, products, and services
- Choose measures that help organizations achieve tangible results.
Virgon Africa works with clients to enable them view the organization from four interconnected perspectives, and to develop objectives, measures (KPIs), targets, and initiatives (actions) relative to each of these points of view:
- Financial: often renamed Stewardship or other more appropriate name in the public sector, this perspective views organizational financial performance and the use of financial resources
- Customer/Stakeholder: this perspective views organizational performance from the point of view the customer or other key stakeholders that the organization is designed to serve
- Internal Process: views organizational performance through the lenses of the quality and efficiency related to our product or services or other key business processes
- Organizational Capacity (originally called Learning and Growth): views organizational performance through the lenses of human capital, infrastructure, technology, culture and other capacities that are key to breakthrough performance.