Measuring key performance indicators across mutliple categories, not just financ
ID: 2456740 • Letter: M
Question
Measuring key performance indicators across mutliple categories, not just financial categories, is an important understanding of the balance scorecards approach.
Applying this on a much more personal level, often times our life can become out of balance because we focus on only one area of performance. For example a person can become a work alcoholic by only focusing on their job.
If you were to construct a "personal balance scorecard" what 4 main categories would you include? Then list at least 3 key performance measures for each category.
Explanation / Answer
Developed personal scorecard with the main categories of objectives and some measurable, realistic Key performance measues for them. Personal Balance ScoreCard Main Categories Key Performance Measures 1 Work Life balance 1. Late Sitting in Office -Max one a week ( Prioritizing Work to squeeze time for 2. Bringing work to Home-Max once a week. family and relaxation) 3. Spending Quality Time with Family a. After office 7 PM to 9PM b. Dinner Together everyday c. Vacation with family in Summer and Xmas 2 Financial Goal 1. Saving in rretirement Corpus $20,000 a year 2.. Savings for Children Education & Marriage -$10,000 a year 3. Saving for Childrens'livelihood support -contingency- $10,000 a year 3 Growth Of Inner Strengths: 1. Pursue the hobby of Violin Playing-every Sunday 2. Studying World Economics -an old passion -every weekend for 4 hrs 3. Exploring Income Tax Laws -to strenghten myself as a professional - During off time in Office , to be able to advice CFO by next year 4 Investment In Health 1. Continue the daily walking schedule of 45 min with wife. 2. Pranayam in the morning -15 Min 3. Yearly Health Check up fr family and quarterly Blood pressure check for self and spouse.