CUADRO DE MANDO INTEGRAL

Summary

The video script discusses the Integral Management Dashboard, also known as the Balanced Scorecard, emphasizing the importance of formulating a great strategy and the company's ability to measure and verify its results. Developed by Professors Kaplan and Norton, the Balanced Scorecard emerged from the realization that financial measures alone were insufficient for comprehensive strategic assessment. The tool translates corporate strategy into interconnected, measurable objectives linked to business actions, aiming to align the entire organization with the strategy. It encompasses four perspectives: financial, customer, internal processes, and learning and growth. The financial perspective focuses on maximizing profitability through revenue growth and productivity. The customer perspective aims to deliver added value to encourage customer loyalty and acquisition. Internal processes involve operational management, customer management, innovation, and regulatory and social processes. Lastly, the learning and growth perspective addresses intangible assets like human capital, information capital, and organizational capital, which are crucial for strategy execution. The script highlights that objectives across these perspectives are interrelated, with financial outcomes dependent on satisfying customer objectives, which in turn rely on optimized internal processes and the application of intangible assets.

Takeaways

• 📈 The Balanced Scorecard (BSC), also known as the Integrated Management Dashboard, is a powerful management tool that helps companies translate their strategy into measurable objectives and align the entire organization with these objectives.
• 💡 BSC was developed by Robert S. Kaplan and David P. Norton as a response to the limitations of traditional financial indicators in measuring strategic performance.
• 🔍 BSC emerged from a study conducted in the 1990s that revealed companies relied heavily on financial indicators, which presented a historical view of the company rather than a current or future perspective.
• 📊 The tool consists of four perspectives: financial, customer, internal processes, and learning and growth, which are interconnected and interdependent for achieving the company's overall strategy.
• 💰 The financial perspective focuses on maximizing profitability through revenue growth and productivity, which includes increasing income and improving the efficiency of financial and physical assets.
• 🛍️ The customer perspective emphasizes delivering added value to customers, with common indicators being customer satisfaction, retention, acquisition of new customers, and customer profitability.
• 🏭 The internal processes perspective outlines how the company can deliver the value proposition to customers by optimizing operations, managing customer relationships, innovating, and ensuring regulatory compliance.
• 🧠 The learning and growth perspective deals with the intangible assets of the company, such as human capital, information capital, and organizational capital, which are crucial for executing the company's strategy.
• 🔗 The objectives of the four perspectives are causally linked, starting from the financial outcomes, which can only be achieved if customer objectives are met, leading to a focused and internally consistent strategy.
• 🤝 BSC aims to mobilize change through leadership and make strategy a continuous process that becomes part of the daily work of all employees, thereby aligning the organization with the strategy.
• 📚 Kaplan and Norton's framework emphasizes the importance of having a capable workforce with the necessary skills and knowledge, supported by effective information systems and infrastructure.
• 🌟 The success of a company's strategy using the BSC depends on the effective application of its intangible assets and the alignment of the four perspectives to create value.

Q & A

What is the Integral Management Dashboard also known as?

The Integral Management Dashboard is also known as the Balanced Scorecard.

Why is the Balanced Scorecard considered an important tool for companies?

The Balanced Scorecard is important because it supports companies in translating their strategy into measurable objectives and aligns the entire organization with the strategy.

Who developed the concept of the Balanced Scorecard?

The concept of the Balanced Scorecard was developed jointly by professors Robert S. Kaplan and David P. Norton.

What was the main issue with companies' management dashboards in the 1990s according to the study?

The main issue was that companies' dashboards were primarily based on financial indicators, which presented a view of the past rather than the present or future, leading to less effective strategic decision-making.

How does the Balanced Scorecard help to focus the organization on the company's strategy?

The Balanced Scorecard translates the company's strategy into interlinked objectives that are measurable through indicators and are connected to business actions, ensuring that the entire organization is focused on the strategy.

What are the four perspectives of the Balanced Scorecard?

The four perspectives of the Balanced Scorecard are the financial perspective, customer perspective, internal business processes perspective, and learning and growth perspective.

What are the two basic points for maximizing financial development in a company?

The two basic points for maximizing financial development are increasing revenue through selling more products or diversifying, and improving productivity by reducing direct costs and using financial and physical assets more efficiently.

What are some common indicators of good results from the customer perspective?

Common indicators include customer satisfaction, customer retention, acquisition of new customers, and customer profitability.

How do internal business processes contribute to the financial objectives of a company?

Internal business processes contribute by providing and delivering value products to the customer and improving processes to reduce costs, which in turn supports the financial objectives.

What are the three categories proposed by Kaplan and Norton for intangible assets in the learning and growth perspective?

The three categories are human capital, informational or knowledge capital, and organizational capital.

How are the objectives of the four perspectives of the Balanced Scorecard interconnected?

The objectives are interconnected through cause-and-effect relationships, where financial results can only be achieved if customer objectives are met, which in turn depend on the value proposition created by optimized internal processes.

What is the key to creating value and a focused, internally consistent strategy according to the Balanced Scorecard approach?

The key is aligning the objectives of the four perspectives, ensuring that they work together to support the overall strategy of the company.