Question

Take some time 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 wth 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 cetain amount of money every month or controlling your spending Remember that when setting your scorecard objectives that they should follow the SMART methad, Goals that are Specific, Measurable, Attainabie, 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 Wihin reach, realistic, and relevant to your fe purpese Timely: With a clearly defined timeline, inluding a starting date and a target date fo completion.or at east an evaluation point.

Answer 1

One iof ithe ipowerful itools iin ia imanager’s itool ikit iis ithe iBalanced iScorecard, ia imodel ithat igroups igoals, iobjectives, iand imetrics iinto ithe iareas iof ifinancial, icustomer, iinternal ibusiness iprocess, iand ilearning iand igrowth. iAs iyou iknow, ithe iscorecard iis ieffective ibecause iit ihelps imanager’s ilink ivision, imission, iand istrategy ito ithe igoals iand iobjectives ithat iemployees istrive ito iachieve. iWhat iyou imay inot iknow, ihowever, iis ithat iyou ican iapply ithe iscorecard ito iyour ipersonal iand iprofessional iobjectives.

1. Develop ia imore ipersonalized iunderstanding iof ithe iBalanced iScorecard iconcept.

2. See ihow iyour ivision iand imission ican ibe ilinked ito iyour igoals iand iobjectives.

3. Be iable ito idevelop iS-M-A-R-T igoals iand iobjectives.

The iBalanced iScorecard ican ibe itranslated iinto iyour iown iindividual iscorecard, ione ithat ihelps iyou iachieve iyour ipersonal iand iprofessional igoals iand iobjectives. iRecall ithat ithe iscorecard ifor ian iorganization istarts iwith ivision iand imission, ifollowed iby igoals i(financial, iinternal ibusiness iprocesses, icustomer, iand ilearning iand igrowth), iwhich ihave icorresponding iobjectives, imetrics, iand itactical iactivities. iWhen ithese icomponents iare iapplied ito iyou ias ian iindividual, iyou imight isee ithe ipieces iof ithe iscorecard.

As iwith ian iorganization’s imission iand ivision, iyour ipersonal imission iand ivision ireflect iwho iyou iare iand iwhere iyou iwant ito igo. iMission ireflects iyour ivalues iand iphilosophy iof ilife. iVision icaptures iwhat iyou iwant ito iachieve.

Goals iand iroles iare iset iout iwith irespect ito ithe iareas iof ifinancial, iothers, iindividual istrengths, iand ilearning iand igrowth. iFinancial, ifor iinstance, icaptures iyour ineeds iand iaspirations iabout imoney, ias iwell ias ithe ifinancial iobligations ithat iyou imight ihave ias ia iresult iof iyour irole iof icaring ifor ia iparent, isibling, ior ichild. iOthers ireflect igoals ithat iyou ihave iin irelation ito iother iindividuals ior isociety iat ilarge.

SMART iportions iof ithe iscorecard iget imore ispecific iin iterms iof iwhich imeasurable ishort-term ipersonal iresults iyou iwant ito iachieve. iWhat iare ithe imost iimportant ichanges iyou iwant ito itackle iin iyour icareer? iSimilarly, iyou iwill iwant ito ianswer ihow iyou ican imeasure iyour ipersonal iresults

i i i i i i i i i iFor ipersonal iobjectives iand iperformance imeasures ito ibe imost ieffective, iyou imight itry iseeing ihow ithey imeasure iup ito iSMART icriteria. iThese icharacteristics, ibased ion ispecific, imeasurable, iattainable, irealistic, iand itime ibound iyield ithe iacronym iSMART.

1. Specific

A ispecific iobjective ihas ia imuch igreater ichance iof ibeing iaccomplished ithan ia igeneral ione. iTo iset ia ispecific iobjective, iyou imust ianswer ithe isix i“W” iquestions:

1. Who: iWho iis iinvolved?

2. What: iWhat ido iI iwant ito iaccomplish?

3. Where: iIdentify ia ilocation.

4. When: iEstablish ia itime iframe.

5. Which: iIdentify irequirements iand iconstraints.

6. Why: iSpecific ireasons, ipurpose ior ibenefits iof iaccomplishing ithe iobjective.

2. Measurable

Establish iconcrete icriteria ifor imeasuring iprogress itoward ithe iattainment iof ieach iobjective iyou iset. iWhen iyou imeasure iyour iprogress, iyou istay ion itrack, ireach iyour itarget idates, iand iexperience ithe iexhilaration iof iachievement ithat ispurs iyou ion ito icontinued ieffort irequired ito ireach iyour iobjective.

3. Attainable

When iyou iidentify iobjectives ithat iare imost iimportant ito iyou, iyou ibegin ito ifigure iout iways iyou ican imake ithem icome itrue. iYou idevelop ithe iattitudes, iabilities, iskills, iand ifinancial icapacity ito ireach ithem. iYou ibegin iseeing ipreviously ioverlooked iopportunities ito ibring iyourself icloser ito ithe iachievement iof iyour igoals iand iobjectives.

You ican iattain imost iany iobjective iyou iset iwhen iyou iplan iyour isteps iwisely iand iestablish ia itime iframe ithat iallows iyou ito icarry iout ithose isteps. iGoals ithat imay ihave iseemed ifar iaway iand iout iof ireach ieventually imove icloser iand ibecome iattainable, inot ibecause iyour igoals ishrink ibut ibecause iyou igrow iand iexpand ito imatch ithem ithrough ithe iachievement iof inearer-term iobjectives. iWhen iyou ilist iyour iobjectives, iyou ibuild iyour iself-image. iYou isee iyourself ias iworthy iof ithese igoals iand iobjectives iand idevelop ithe itraits iand ipersonality ithat iallow iyou ito ipossess ithem.

4. Realistic

To ibe irealistic, ian iobjective imust irepresent ian iobjective itoward iwhich iyou iare iboth iwilling iand iable ito iwork. iAn iobjective ican ibe iboth ihigh iand irealistic; iyou iare ithe ionly ione iwho ican idecide ijust ihow ihigh iyour iobjective ishould ibe. iBut ibe isure ithat ievery iobjective irepresents isubstantial iprogress. iA ihigh iobjective iis ifrequently ieasier ito ireach ithan ia ilow ione ibecause ia ilow iobjective iexerts ilow imotivational iforce. iSome iof ithe ihardest ijobs iyou iever iaccomplished iactually iseem ieasy isimply ibecause ithey iwere ia ilabor iof ilove.

Your iobjective iis iprobably irealistic iif iyou itruly ibelieve ithat iit ican ibe iaccomplished. iAdditional iways ito iknow iwhether iyour iobjective iis irealistic iis ito idetermine iwhether iyou ihave iaccomplished ianything isimilar iin ithe ipast ior iask iyourself iwhat iconditions iwould ihave ito iexist ito iaccomplish ithis iobjective.

5. Timely

An iobjective ishould ibe igrounded iwithin ia itime iframe. iWith ino itime iframe itied ito iit, ithere’s ino isense iof iurgency.

An iobjective iis itangible iwhen iyou ican iexperience iit iwith ione iof ithe isenses, ithat iis, itaste, itouch, ismell, isight, ior ihearing. iWhen iyour iobjective iis itangible, iyou ihave ia ibetter ichance iof imaking iit ispecific iand imeasurable iand ithus iattainable.

Personal iImprovement iActivities

The inext istep iis iimplementation. iOne iway ito ithink iabout iimplementation iof iyour iBalanced iScorecard iis ithrough ithe iplan-do-act-dare icycle i(PDAD icycle), ito ibe ifollowed icontinuously.

a. Plan

Formulate ior iupdate iyour iscorecard, iwhich ifocuses ion iyour iwork ias iwell ias ion iyour ispare itime. iThis ispans ivision iand imission ithrough ipersonal iobjectives iand iperformance imetrics.

b. Do

Start iwith ia isimple iobjective ifrom iyour iscorecard iwith icorresponding iimprovement iactivity, ikeeping iin imind ithe ipriorities ithat ihave ibeen iidentified. iEach imorning, ifocus ion ia iselected iimprovement iaction ithat iyou iwill istrive ito iimplement iduring ithe iday. iExecute ithe iimprovement iactivity iwith iemotional idedication, iself-confidence, iand iwillpower iand iconcentrate ion ithe iaction. iThis imust ibe iin iconcordance iwith iyour ipresent iskills. iShare iyour igood iintentions iwith ia itrusted iperson i(spouse, ifriend, icolleague, ior imanager), iwho iwill iask iquestions iand igive iyou ihonest ifeedback. iDoing iis irelated ito iacting iwith ipurpose iand ito ideliver iefforts ito irealize iyour iobjective. iAsk ioften ifor ifeedback ifrom ithe itrusted iperson. iThis igives iyou ithe iopportunity ito imeasure ithe iprogress iyou ihave imade. iStart iwith ihabits, iwhich irestrict iyou, iinfluence iyour ilife iunfavorably, iand ideliver ipoor iresults.

c. Act

Check iwhether ithe iimprovement iactivity iis iworking iand itake iaction iwhen iit iis inot. iReview ithe iresults iaccording ito ithe idefined ipersonal iperformance imeasures iand itargets, imeasure iyour iprogress, iand icheck ito iwhat iextent iyou ihave irealized iyour ipersonal iobjectives—as isuggested iby ithe i“assess imy iprogress” iportion iof ithe imountain-climbing igoal. iIf iyou ihave inot ibeen iable ito irealize iyour iobjective, istart iagain. iYou iwill iimprove isteadily ias iit ibecomes ia ihabit ito ido igood ithings iright ithe ifirst itime iand ievaluate iyour iscorecard ieach imonth iwith iyour itrusted iperson. iThink iof ithree ipeople iwho ican iact ias iyour itrusted iperson, iwho iprovide iyou iwith iinspiration iand imotivation isupport ifor irealizing iyour iobjectives iand iimprovement iactions. iPlan ito imeet iwith ieach ione iof ithem iregularly. i

d. Dare

Accept ilarger ichallenges iby idaring ito itake ion ia imore idifficult iobjective iand icorresponding iimprovement iaction ifrom iyour iscorecard iand iget ion iwith iit. iTake ia ichance iand ibe iconscientious ito ichoose ia imore ichallenging iobjective iin iline iwith iyour iimproved iskills iwhen ithe icurrent iimprovement iaction ibecomes iboring. iEnjoy ithe ipleasant iexperience, iand idocument iwhat iyou ihave ilearned iand iunlearned iduring ithe iexecution iof ithe iimprovement iaction. iRefine iit, iand ireview iyour iscorecard iregularly.

The ipurpose iof ithis isection iwas ito ihelp iyou itranslate ithe iBalanced iScorecard ito iyour iown ipersonal iand iprofessional isituation. iYou ilearned ihow iyou imight iconstruct ithe iscorecard, iand itake iaction ito iachieve ipersonal iresults. iThrough ithis iprocess, iyou imight ialso ilearn imore iabout iwhere iand ihow ia iBalanced iScorecard ican ibe iapplied iin ian iorganizational icontext iin iyour irole ias ia imanager ior iemployee.