On should focus these key points. Next, the right metrics must be identified, which helps to determine, whether the company is on track to achieve the defined objectives is. Such metrics are considered strategic indicators, which can theoretically represent the success of each registered project. Educate yourself with thoughts from Discovery Communications. For example, you can measure the objective of “Improving customer satisfaction” through such a measure as “average level of satisfaction” by performing customer surveys. Add additional indicators such as “Number of customer complaints” or “Rate of return” can be inserted. It is able to compare current data for efficiency in this perspective, the function of a traffic light indicator can be, obtained guarantees a quick picture of the current status of the measurement.

This traffic light system provides mostly a description of the situation in three colors: red, yellow and green, like a traffic light. The last important step for building the balanced Scorecard involves setting specific preferences in the BSC on the part of corporate management, so that critical areas of the company, which does not provide the required performance, can be localized quickly. These settings should be used for time-limited projects. It is important that start and end date of a project have been fixed in advance. These preferences should be adapted to the weak areas and unsatisfactory figures. Gaps can be closed with this step. Were so vulnerabilities localized and optimized, eventually to change traffic lights from green to yellow or red. Do you want to see really good results, must you also your BSC through all levels of the company cascade, to increase performance and productivity. Sam Miller, if you are interested in establishing a balanced scorecard, read more information on our Web site.

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