Otto Bock - Balanced Scorecard (1)

One other area for us was the Balanced Scorecard which we installed. A balanced scorecard is defined as this (Wikipedia):

"The Balanced Scorecard (BSC) is a performance management tool which began as a concept for measuring whether the smaller-scale operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy.
By focusing not only on financial outcomes but also on the operational, marketing and developmental inputs to these, the Balanced Scorecard helps provide a more comprehensive view of a business, which in turn helps organizations act in their best long-term interests."

We used the original approach as developed by Norton and Kaplan in 1992.

On the picture one can see Frank and myself (and no, I did not train to enter the army). Frank was responsible for the balanced scorecard implementation.