5. Balanced Scorecard A balanced scorecard is a tool developed by Kaplan and Norton in 1996. It translates an mission and strategy into a comprehensive set of performance measures that organization’s provides the framework for a strategic measurement and management system. The model distinguishes between four levels: learning and growth - focuses on how to educate employees, how to gain and capture knowledge, and how to use it to maintain a competitive edge within company’s target markets, business processes - measures critical-to-customer process requirements and measures, customers - measures customers' satisfaction and their performance requirements, finance - tracks financial requirements and performance. Lille plan is to develop an online ordering service and implement dose dispensing Pharmacy’s system which would increase revenue and customers satisfaction. For that, they have to integrate a new process with the old one. Objectives Measures Targets Initiatives Increased business New service Increase in sales First year +3% profit process revenue Second year +5% Growth in market First year +2% share Second year +4% Financial
5. Balanced Scorecard A balanced scorecard is a tool developed by Kaplan and Norton in 1996. It translates an organization’s mission and strategy into a comprehensive set of performance measures that provides the framework for a strategic measurement and management system. The model distinguishes between four levels: learning and growth - focuses on how to educate employees, how to gain and capture knowledge, and how to use it to maintain a competitive edge within company’s target markets, business processes - measures critical-to-customer process requirements and measures, customers - measures customers' satisfaction and their performance requirements, finance - tracks financial requirements and performance. Lille Pharmacy’s plan is to develop an online ordering service and implement dose dispensing system which would increase revenue and customers satisfaction. For that, they have to integrate a new process with the old one. Objectives Measures Targets Initiatives Financial Increased business profit Increase in sales revenue Growth in market share First year +3% Second year +5% First year +2% Second year +4% New service process