Balanced Scorecard mind map. Frame Approach.

Balanced Scorecard is a strategic planning approach that describes companies goals in four perspectives - "Customer", "Business Process", "Financial" perspective and "Learning and Growth" perspective. We created a Balanced Scorecard mind map to support creation of scorecard for personal or business needs. 

In this article you will find out more about Balanced Scorecard concept. Also, you can download a sample Mind Pad map that is a basic for building your own scorecard

Overview - Balanced Scorecard with Mind Pad

Let me explain what is Balanced Scorecard designing in Mind Pad and why it's better that tools for balanced scorecard and what valued does it add.

Using Balanced Scorecard with Mind Pad

Now, let me show how to benefit from using BSC_Goal object in Mind Pad.

1. I've add to the map a custom designed BSC_Goal object. It has all properties I need to describe some specific company goal for perspective. My goal is "Improve access to business-critical information".

1. First, I wish to describe the measurement method. I put into "Measure method" property the following text: "We will evaluate the number of requests by one employee"
2. Now, I'm describing my goal: "The number of employees that can access strategic information", the goal value is "80%".
3. It's a time to act. I put in "Action" property the value "We will start promoting company entire network".

I built this goal of my balanced scorecard map. And after some time I'm getting back to it as I have some results:

1. First, now I know what is the problem, why most people wasn't able to access business-critical information. My IT stuff reported that "We should provide a direct access to company network from the web". Let's put this into "Action feedback" properties.
2. Also, guys from IT did some work to improve access to business information. I evaluate the progress as 10% and put some ideas in "Progress Description" property: "Guys from IT released a wireless access to entire network".

So this example shows how you can manage your goals with Balanced Scorecard map. It's easy because topics represent just the short summary and if you need details - you click at topic and browse for more values. 

Click to see big image of contact map

Also, you can view the old version of Balanced Scorecard built with Mind Pad. It doesn't use object-oriented frames approach so the map is biggest and harder to understand. Compare it with new one to learn the benefits of frames approach.

Why we work with Balanced Scorecard

Balanced Scorecard is what makes company more effective as company employees know about strategic goals, know how their job is linked with strategic goal. In 2004 we have designed a Strategy2Act product that allows to build and balance scorecard. 

Now we are releasing Balanced Scorecard in mind mapping technique. We used Mind Pad product to describe the sample mind map and show how to create a company/personal balanced scorecard.  

What is Balanced Scorecard

The Balanced Scorecard is a business management concept. This concept allows to transform strategy into action.  It's a not a set of rules or methods, it's a conception that allows to share your strategy and vision with others.

Learning and Growth perspective (strategic goal) in Mind Pad. Pay attention to properties of this frame objects. Note: you can put information about goal description, measure way, current and target state.

There are three important things you should know about Balanced Scorecard:

• It’s a concept (not a set of rules, tools or methods);

• It helps to connect your strategy with real action;

• It lets to describe companies’ strategy, vision and mission;  

Basing Balanced Scorecard concept every strategic goal must have a success factors. For every factor you can have a measure way and target value.

Goal. As you can see at this picture Employee Satisfaction goal is linked with Learning and Growth strategic goal. You should show the progress for this goal. "Progress Description" and "Progress" properties were designed for this task.

The balanced scorecard suggests to view the organization from four perspectives:

• The Learning and Growth Perspective
• The Business Process Perspective
• The Customer Perspective
• The Financial Perspective

Then you should develop success measure ways and assign a target values.

Why use Balanced Scorecard

The Balanced Scorecard is another great way to let your employees know about your strategy, mission and vision. People will not just “know” about your strategy, but will be able to answer question:

• What can we do to achieve our strategy;
• What is the relation between things we are doing now and strategy/vision of our company;
• The Balanced Scorecard transforms strategy into action;

Use Balanced Scorecard to transform your strategy into action.

Special

• For building balanced scorecard maps purchase Mind Pad with special price 49$. Purchase Mind Pad.

Related topics

• Total Quality Management (TQM). Quality assurance through statistical methods is a key component in a manufacturing organization. Learn how to mind map TQM. 

• SWOT analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats. Use Mind Pad to support your SWOT analysis.

• Six Sigma  is a quality program for improving business processes. Describe your process and Six Sigma topics with Mind Pad.

Sample maps

	Balanced Scorecard This is a sample of Balanced Scorecard, representing company vision and goals.  Download Balanced Scorecard [18 KB]
Installation Please, read first how to install this model in Mind Pad (www.mind-pad.com): 1. You should install Balanced Scorecard model.  Open Mind Pad Model folder, for instance: C:\Program Files\Mind Pad\Models Copy Balanced Scorecard.mdm to that folder; 2. You can copy additional graphics to Image Library. Open Mind Pad Image Library folder, for instance: C:\Program Files\Mind Pad\ImageLibrary Copy BSC Images to that folder; 3. You can copy additinoal grapgics to Style Library Open Mind Pad Styles folder, for instance: C:\Program Files\Mind Pad\Styles Copy BSC Styles to that folder; 4. Now you can open sample map balanced-scorecard.mprj file.

Evaluate Mind Pad

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