Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Take some time over next few weeks to build your own Personal Balanced Scorecard. Rather than a scorecard for a company, this scorecard will be

Take some time over next few weeks to build your own "Personal Balanced Scorecard." Rather than a scorecard for a company, this scorecard will be about your own personal goals, and how you can measure your progress towards them. Think of each of the traditional four perspectives in a way that can apply to your own life:

  • Internal (health) perspective:This perspective is about the physical and mental well-being of an individual. Measures from this perspective should emphasize how someone can improve or maintain their physical and mental fitness.
  • Customer (external) perspective:This perspective has to do with relationships with family members, friends, work colleagues, etc., and how you come across to them. Measures from this perspective should focus on improving relationships, such as time spent with family.
  • Learning & Growth perspective:This perspective focuses on how you as an individual are improving your knowledge and skill set, whether it is through school, training, or self-taught methods. An example would be hours of reading a week or attaining a certain grade in school.
  • Financial Perspective:This perspective has to do with your own financial goals, whether it is saving a certain amount of money every month, or controlling your spending.

Remember that when setting your scorecard objectives that they should follow the SMART method - goals that are Specific, Measurable, Attainable, Realistic and Timely.

  • Specific: Well defined, clear and unambiguous.
  • Measurable: With specific criteria that you can actually measure your progress towards the realizing this objective.
  • Attainable: Attainable and not impossible to achieve, but also challenging enough.
  • Realistic: Within reach, realistic, and relevant to your life purpose.
  • Timely: With a clearly defined timeline, including a starting date and a target date for completion or at least an evaluation point.

You should haveat least four objectivesunder each perspective. Explain your objectives and why they are critical success factors for your life! The report should be about two to three pages. Visualizing your scorecard would also be excellent!

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: John J Wild, Ken Shaw

24th edition

1259916960, 978-1259916960

More Books

Students also viewed these Accounting questions

Question

2. It is the results achieved that are important.

Answered: 1 week ago