Balanced scorecards – focus on the most critical goals
EQS Balanced Scorecard (BSC) minimizes the information abundance by using indicators in order to help you to focus on the most critical goals. The tool enables measurement of achievement in relation to the objectives and fills the gap which often occurs between the overall objectives and practical implementation in the organization.
Status of key figures can be presented as color codes or traffic lights. It provides a user-friendly presentation that is easy to communicate to all employees.
EQS Indicator gives you the status of how your business is in relation to what goals are set. Traffic light indicators enables you to quickly get an impression of the situation without having to go deep into each area. It makes it easier to see where action needs to be taken.
A survey done by Deloitte shows that only 5% of the employees understand the company’s strategy and that less than 10% of the strategies are implemented in a good way. This is supported by the fact that 60% of the business has little or no link between strategy and budget, and that 92% of the companies do not report on leading indicators.
Balanced Scorecards provides better decisions
The tool contributes to better decisions because you get quick access to relevant data. EQS handles both economic and non-economic objectives. Measurement data is entered via control cards (scorecards) that are dynamic forms. The collected data is then gathered in a base that provides the basis for further analysis and reporting. The actual measurement data is then compared with the target for the business. Information about how the organization stands in relation to achieving the strategic objectives can then easily be retrieved.
Key features
• Balanced Scorecard gives management a tool for controlling implementation of business strategy and measure achievement of strategic objectives
• Depletion of objectives provide material for the content of scorecards
• Scorecards = key management indicators
• Degree of achievement of management indicators, provide a fact-based estimate for how far the business has come in obtaining the objective
• EQS as a tool can be set up to handle all types of scorecards
• The functionality of BSC is in the basic modules of EQS
• EQS is used throughout the entire organization for quality management work
• EQS can be accessed by everyone in the organization through a web browser. In that way overall objectives can reach implementation at all levels in the organization
• In a scientific paper* a majority of respondents expressed that employees at all levels want to get access to indicators showing the degree of achievement linked to their own responsibility areas
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