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Balanced_sample

Balanced_sample

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Balanced_sample Balanced_sample Presentation Transcript

  • The Balanced Scorecard Superfactory Excellence Program™ www.superfactory.com
  • Outline
    • Introduction to the Balanced Scorecard
      • What is it?
      • Why do it?
    • Balanced Scorecard Fundamentals
      • The Four Perspectives
      • Measures, Targets and Initiatives
      • Roles and Responsibilities
    • Using the Balanced Scorecard as a Management System
    • Issues and Challenges with the Balanced Scorecard
    • Implementing the Balanced Scorecard
  • Strategy vs Operational Excellence
    • Strategy creates fit among a firms activities
    • The success of strategy depends on doing many things well, not just a few
    • All things that are done well must operate within a close knit system
    • If there is no fit, there is no strategy
    • Without fit management becomes the search for operational excellence
    • Improving operational excellence is necessary but it is not the same as strategy
    • Managing fit is “strategic management”
    View slide
  • The Increasing Sophistication of Corporate Performance Measurement Time Sophistication of Measurement Systems Operating measures Traditional accounting measures Quality-related operating measures Activity-based costing Balanced scorecard Economic value added Value-linked measurements for business strategy, stakeholder needs, process attributes and the business environment View slide
  • The Balanced Scorecard
    • Ties performance measures to corporate strategy
    • “Balance” includes
      • short & long term objectives
      • financial and non-financial measures
      • external & internal measures
      • various perspectives
    • Purposes of the balanced scorecard include
      • clarify & translate vision & strategy
      • communicate & link strategic objectives & measures
      • plan, set targets & align strategic initiatives
      • enhance strategic feedback & learning
  • The Balanced Scorecard and The Big Picture
    • Activity Based Costing
    • Economic Value Added
    • Forecasting
    • Benchmarking
    • Market Research
    • Best Practices
    • Six Sigma
    • Statistical Process Control
    • Reengineering
    • ISO 9000
    • Total Quality Management
    • Empowerment
    • Learning Organization
    • Self-Directed Work Teams
    • Change Management
  • Potential Problems with the BSC
    • Lack of time for the decision makers to focus on strategy
      • Having strategy sessions on a continuous basis is difficult
      • Running the business seems to come first
    • Confusion between operational efficiency and strategy
      • This is a continual problem
      • Always ask “do I have options?” if so then it’s strategy
    • Difficulty in creating well defined metrics and connecting them to deliverables
      • Scalar metrics with defined “units of measure”
    • Cascading the objectives down to the staff that can deliver the results
      • This is the hardest and where there is the most resistance