roymoggadmin
05-13-2009, 06:08 PM
Balanced Scorecard
The balanced scorecard approach (BSC) although dated is a useful and well-known method of managing and aiding planning for long-term performance requirements. It is best for divisions and organizations with a well-defined strategy set-down or at least already defined and understood.
A BSC is a representation of a strategy not the strategy process itself
It has the greatest impact when used to drive change
It is very useful to link measurements to the strategy
Can be designed to be iterative and modified by learning
Steps in Balanced Scorecard:
Identification of principal strategic thrusts and agreement on mission, vision, values and aims. At this stage a tentative first cut of the BSC elements is derived.
For the strategy elements and challenges identified during the strategy planning process, for each of the four perspectives (financial, customer , internal, external) identify the implications, performance changes and needs.
What will be the CSF’s or CFF’s to achieve the changes identified and which of the CSF’s are most important or leading - around 4 or 5 main measures per perspective. Completion of the linkage to the strategy and development of causal mapping to the top level financials
What metrics can we devise to track the CSF’s and setting down the bandwidth targets for the metrics - practicality plays a strong role here.
Set-down the implementation plan and the deployment strategy across the organization. Design and put down the base approach to a MIS to track and monitor the program and conformance to plan.
For this method, we offer training and/or coaching
The balanced scorecard approach (BSC) although dated is a useful and well-known method of managing and aiding planning for long-term performance requirements. It is best for divisions and organizations with a well-defined strategy set-down or at least already defined and understood.
A BSC is a representation of a strategy not the strategy process itself
It has the greatest impact when used to drive change
It is very useful to link measurements to the strategy
Can be designed to be iterative and modified by learning
Steps in Balanced Scorecard:
Identification of principal strategic thrusts and agreement on mission, vision, values and aims. At this stage a tentative first cut of the BSC elements is derived.
For the strategy elements and challenges identified during the strategy planning process, for each of the four perspectives (financial, customer , internal, external) identify the implications, performance changes and needs.
What will be the CSF’s or CFF’s to achieve the changes identified and which of the CSF’s are most important or leading - around 4 or 5 main measures per perspective. Completion of the linkage to the strategy and development of causal mapping to the top level financials
What metrics can we devise to track the CSF’s and setting down the bandwidth targets for the metrics - practicality plays a strong role here.
Set-down the implementation plan and the deployment strategy across the organization. Design and put down the base approach to a MIS to track and monitor the program and conformance to plan.
For this method, we offer training and/or coaching