Over the course of 18 months, the company developed more than 20 global business processes and 83 global data standards, and put facilitycenter in place at six legacy pfizer and warner lambert sites. The balanced scorecard bsc approach to performance measurement is gaining, over the last decades, an. The balanced scorecard retains traditional financial. An example of our commitment to rare disease patients is rapamune. In 2017, we continued to invest in our business including funding the discovery and. Pfizer streamlines operational processes to achieve.
The balanced scorecard bsc is a strategic management and planning tool. Balanced scorecard bsc is a powerful tool that gives a fast, but comprehensive view of the business including operational measures on customer satisfaction, organizations innovation, activities. We use a number of adjusted, nonifrs, measures to report the performance of our business, as described on. This occurred largely due to the strong performance of new product launches and. Roadmap to balanced excellence pfizer s journey to continuous improvement began in 2002. B est of hbr 1992 the balanced scorecard measures that drive performance by robert s. This performance would not have been possible without the exceptional execution and. Kaplan and norton describe the innovation of the balanced scorecard as follows. Balanced scorecard topic gateway series essentially, the bsc is a management system that enables an organisation to identify and clarify its vision and strategy, and translate them into action. The product information provided in this site is intended only for residents of the united states. View all pfe assets, cash, debt, liabilities, shareholder equity and investments. But financial measures tell the story of past events, an.
The balanced scorecardmeasures that drive performance. Balanced scorecard adopters balanced scorecard institute. Because the balanced scorecard requires every action to answer to established corporate goals, using the scorecard within it can still help promote alignment and eliminate projects that contribute. By analysing the balanced scorecard of pfizer, we will be able to pinpoint the key element to success for pfizer and meanwhile identify the factor can be improved. The balanced scorecard focuses on factors that create longterm value traditional financial reports look backward reflect only the past. Mba presentation explaining kaplan and nortons balanced scorecard approach. Aer growth rates represent growth at actual exchange rates. Balanced scorecard basics communicat business systems. The core performance measurement approach, strategic objectives, core measures, and national. Several factors contributed to our higher score on the 2016 index. For example, with the implementation of a new growthoriented sales strategy in. The balanced scorecard retains traditional financial measures.
The balanced scorecard in a pharmaceutical company. One example of this work is our collaboration with cancer patient. What follows, provides guidance and advice on the development and implementation of a balanced scorecard for those organisations considering the introduction of a. My experiences as a balanced scorecard practitioner with a large canadian company taught me that tremendous results are possible with the tool, but to attain. For example, pfizer is at the forefront of developing. The balanced scorecard requires specific measures of what customers getin terms of time, quality, performance and service, and cost.661 565 740 222 484 1268 1263 279 348 650 959 782 902 1490 1609 1374 489 485 861 373 1435 1141 1244 1167 1089 1647 716 452 1141 1578 3 1396 19 1006 526 1635 78 243 832 864 224 1392 822 274 529 611 1052 512