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FITT Toolbox: Cluster Management Scorecard
 

FITT Toolbox: Cluster Management Scorecard

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The Balanced Scorecard methodology is used, to give mangers a tool for translating a strategy or a vision into actions and to reach the set targets. The MFG Balanced Scorecard gives cluster managers a ...

The Balanced Scorecard methodology is used, to give mangers a tool for translating a strategy or a vision into actions and to reach the set targets. The MFG Balanced Scorecard gives cluster managers a tool for managing their cluster initiatives by defining concrete objectives based on their vision and strategy. The Balanced Scorecard methodology helps to clarify and translate vision and strategy, to communicate and link strategic objectives with actions, to plan, set and align strategic initiatives and to enhance strategic feedback and learning.

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    FITT Toolbox: Cluster Management Scorecard FITT Toolbox: Cluster Management Scorecard Presentation Transcript

    • Cluster Management Scorecard FITT– Fostering Interregional Exchange in ICT Technology Transfer – www.FITT-for-Innovation.euExcept where otherwise noted, this work is licensed under a Creative Commons Attribution 3.0 License.
    • Balanced Scorecard - Management Tool for Cluster ManagersThe Balanced Scorecard methodology is used, to give managers a tool fortranslating a strategy or a vision into actions and a clear set targets.The Balanced Scorecard methodology can solve the following managementproblems: Clarify and translate vision and strategy Communicate and link strategic objectives and actions Plan, set targets and align strategic initiatives Enhance strategic feedback and learning2 | 16.03.2010 Cluster Management Scorecard
    • 5 steps for defining the Cluster Management ScorecardStep 1 : Checking the strategyStep 2 Define the structureof the balanced ScorecardStep 3: Setting objectives,targets and strategicinitiativesStep 4: ImplementationStep 5: Learning effects 3 | 16.03.2010 Cluster Management Scorecard
    • Step 1: Checking the strategy Strategy is needed Most cluster initiatives don’t have a fully developed strategy First step: identify the real focus and identify the most important objectives (e.g. workshops)4 | 16.03.2010 Cluster Management Scorecard
    • Step 2: Define the structure of the BSC Transform the strategy into four or five perspectives Each perspective is one main topic for the cluster initiative The value of this approach:  all relevant targets/aspects are taken into consideration for the strategy  it avoids the exclusive focus on just one limited aspect5 | 16.03.2010 Cluster Management Scorecard
    • Step 3: Setting objectives, targets and strategic initiatives• The objectives of the cluster initiative are conveyed directly from the strategy• Focus on the objectives, which are crucial for realising the strategy.• Not more than 20 objectives should be written down.• For each objective, the following aspects have to be developed: Indicators and measurement categories Find indicators, which help to monitor the achievement of the objectives. Targets For each indicator clear targets have to be defined. Strategic initiatives Strategic initiatives are all actions, which help to reach the objective. 6 | 16.03.2010 Cluster Management Scorecard
    • Step 4: Implementation Implementation is a complex process A consensus about which perspectives, objectives, indicators and strategic initiatives has to be found with all members of the initiative Members of the cluster initiative need to be involved in the decision- making process (e.g. in workshops for strategy definition) Organisation of workshops to involve all members: normally 1 or 2 workshops are needed to implement a functional Balanced Scorecard.7 | 16.03.2010 Cluster Management Scorecard
    • Step 5: Learning effects Implementation of a balanced scorecard is only the first step constant use has to be secured: organize scorecard meetings on a regular basis In these meetings: discuss categories, strategic targets, the current status and problems Collect learning effects: cluster managers can see, which actions supported the realisation of the defined strategy and which actions were without effect.  Constant monitoring  Control and overview of activities  Optimization of actions8 | 16.03.2010 Cluster Management Scorecard
    • Who? Stakeholders • Cluster managers of German speaking area (Platform is currently only available in German) • Facts & Figures - MFG: 3 months planning and implementation of the tool - External BSC expert involved - Target for 2010: 5 cluster initiatives9 | 16.03.2010 Cluster Management Scorecard
    • Balanced Scorecards for Cluster Managers PRO’s CON’s • Improves cluster management • Implementation and acceptation of the • Very flexible tool: adoptable to any Balanced Scorecard. strategy and objectives • A long process to develop a functional • Cluster initiatives to structure the scorecard, the benefit of this complexity of their objectives and to methodology is not evident visualize their strategy immediately • New ways to measure objectives, • The challenge is to convince the which are hard to measure cluster managers that they really need • Success can be made ‘visible’ by this important tool demonstrating which targets they have reached10 | 16.03.2010 Cluster Management Scorecard
    • Balanced Scorecards for Cluster Managers PRO’s CON’s • Balance Scorecard creates transparency: why has an objective failed? • Supports the learning process, as the • Finding of the objectives, targets, tool clearly shows the positive and indicators and strategic initiatives for negative effects of actions the cluster initiative is complex • Flexible, browser-based software • Cluster initiative must find and agree • Interactive tool allows everybody’s on a common strategy and objectives participation • Every member of a cluster initiative can have access to the strategy and can follow objectives of his cluster initiative.11 | 16.03.2010 Cluster Management Scorecard
    • Why is a Balanced Scorecard useful for cluster initiatives?Challenges rise for cluster initiatives:1) To translate a vision or strategy into concrete objectives and actions2) Impact analysis and evaluation is needed for effective management3) Lack of transparency: the value of efforts and money cannot be proven without a serious evaluationThe MFG Monitoring Tool helps to solve these problems: The operationalization of a strategy is the greatest value of the Balanced Scorecard methodology. It offers the possibility to think about the real goals of a cluster initiative It helps to discover the ways, how these goals can be achieved within the next years. The tool enables cluster initiatives to show their success and the importance of their work in a clear and structured way. 12 | 16.03.2010 Cluster Management Scorecard
    • Lessons Learned It is not always easy to convince the cluster managers of the balanced scorecard methodology  Need to show the benefits (e.g. case studies) and improvements of the management Some recommendations  Find a consensus about the vision and strategy of the cluster initiative  Involve the members of the cluster initiative  Have an (internal or external) cluster expert for the moderation of workshops  Define the targets as concrete as possible (SMART-Rule)  Do take into account that further developments, updates (technical and content-wise) and maintenance are time-consuming and costly13 | 16.03.2010 Cluster Management Scorecard
    • Suggested Readings Link to bibliography: The cluster initiative Green book Clusters: Balancing Evolutionary and Constructive Forces Link to relevant websites www.kreatek.de www.clusterobservatory.eu www.competitiveness.org/article/library14 | 16.03.2010 Cluster Management Scorecard