Take the balanced approach to growth
Knowing your company’s financial performance is nice; predicting future financial performance is way better.
Conventional financial metrics only show you one part of the picture. To build a business that will endure and thrive, you also need to look at strategic measures. Knowing the right areas to monitor enables you to reach your goals faster.
Constellation takes Robert S. Kaplan and David P. Norton’s concept of the balanced scorecard to a new level, giving you a big-picture view of your organization and allowing you to systematically link current actions with tomorrow’s goals.
This cause - effect approach will give your management a better understanding of how their companies are really doing, and the means to exploit intangible assets as decisively as physical ones.
Constellation’s balanced scorecard complements traditional financial measures with criteria that measures performance from three additional perspectives.
Are there obstacles between innovation and execution? How easily and quickly can your business adapt to change? Are you giving customers what they need?
The Internal Business Processes perspective shows you how smoothly your business is running; it allows you to check its efficiency, and speed things up and reduce waste.
One of the biggest indicators of future success is Customer Satisfaction. The better you treat your customers today, the happier they are, and the longer they will be with you. The Customer Perspective gives you a closer look at the people who actually pay for your products and services. It lets you see how good you are at keeping your customers happy and loyal.
No balanced view can be complete without looking at traditional financial measures. The Financial Perspective is an important aspect of the balanced scorecard; it looks at the business’s capacity to make money, shareholder satisfaction and the impact of previous fiscal decisions. Businesses that make money survive and the Financial Perspective looks closely at that.