Principles of Management by Mason Carpenter, Talya Bauer, Berrin Erdogan prev next

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Your Personal Balanced Scorecard

One of the powerful tools in a manager’s tool kit is the Balanced Scorecard, a model that groups goals, objectives, and metrics into the areas of financial, customer, internal business process, and learning and growth. As you know, the scorecard is effective because it helps managers link vision, mission, and strategy to the goals and objectives that employees strive to achieve. What you may not know, however, is that you can apply the scorecard to your personal and professional objectives. Through this process you might also learn more about where and how a Balanced Scorecard can be applied in an organizational context in your role as a manager or employee. That is the purpose of this section.

Figure 6.12. 

Personal goals and objectives are key ingredients in your drive to get ahead.


The Balanced Scorecard, championed by Kaplan and Norton, can be translated into your own individual scorecard, one that helps you achieve your personal and professional goals and objectives. Recall that the scorecard for an organization starts with vision and mission, followed by goals (financial, internal business processes, customer, and learning and growth), which have corresponding objectives, metrics, and tactical activities. When these components are applied to you as an individual, you might see the pieces of the scorecard labeled as shown in the following figure. Let’s review each piece together.

Figure 6.13. My Balanced Scorecard

My Balanced Scorecard

These portions of the scorecard get more specific in terms of which measurable short-term personal results you want to achieve. What are the most important changes you want to tackle in your career? Similarly, you will want to answer how you can measure your personal results. What values do you have to obtain, and what are your specific targets?

For personal objectives and performance measures to be most effective, you might try seeing how they measure up to SMARTSMARTA goal that is specific, measurable, achievable, realistic, and timely. criteria. These characteristics, based on specific, measurable, attainable, realistic, and time bound yield the acronym SMART.[290] Here is how to tell if your objectives, measures, and targets are SMART.

The next step is implementation. One way to think about implementation of your Balanced Scorecard is through the plan-do-act-dare cycle (PDAD cyclePDAD CycleThe plan-do-act-dare cycle is one strategy for undertaking the implementation of personal improvement activities in a personal Balanced Scorecard.), to be followed continuously.[292] As summarized in the following figure, the PDAD cycle consists of the following four phases:

Figure 6.14. The PDAD Cycle

The PDAD Cycle

Check whether the improvement activity is working and take action when it is not. Review the results according to the defined personal performance measures and targets, measure your progress, and check to what extent you have realized your personal objectives—as suggested by the “assess my progress” portion of the mountain-climbing goal. If you have not been able to realize your objective, start again. You will improve steadily as it becomes a habit to do good things right the first time and evaluate your scorecard each month with your trusted person. Think of three people who can act as your trusted person, who provide you with inspiration and motivation support for realizing your objectives and improvement actions. Plan to meet with each one of them regularly. Listen enthusiastically to them, brainstorm with them, and take their wise counsel. Develop your skills and competencies to achieve the objectives you selected. Recognize your responsibility to constantly develop yourself. Implement the proven personal improvements, assess the personal results, document the lessons learned, and improve and monitor your actions and thinking continuously. Also think about bringing your personal ambition and your personal behavior into balance, which will result in influencing your ethical behavior. According to Steven Covey, author of The Seven Habits of Highly Effective People, after a few weeks, you will notice small differences in yourself. In two months, the behavioral change will become firmly embedded. After five months, the important personal quality will be yours.



[290] Drucker, P. (1954). The Practice of management. New York: HarperCollins. Drucker coined the usage of the acronym for SMART objectives while discussing objective-based management.

[291] We thank Elsa Peterson, our developmental editor, for providing this example based on one of her friend’s personal experiences. Another real-life comparable example is shown here: Manochio, M. (2008, September 30). http://www.dailyrecord.com/apps/pbcs.dll/article?AID=/20080930/COMMUNITIES12/809300311 (accessed November 10, 2008).

[292] Rampersad. 2005. Personal Balanced Scorecard: The way to individual happiness, personal integrity, and organizational effectiveness. Charlotte, NC: Information Age Publishing.

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