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Balanced Scorecard
 

Balanced Scorecard

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Example application of Balanced Scorecard

Example application of Balanced Scorecard

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    Balanced Scorecard Balanced Scorecard Presentation Transcript

    • The Balanced Scorecard Metro-North Roundtable PMI Mass Bay Chapter November 25, 2009 A. John Morrison, PMP Its Purpose, Application & Adaptation to PM
    • The Vision Be the leading provider of oil-based products in the world. Run the most efficient and safely operated oil production facilities in our industry.
    • Introduction
      • The Balance Scorecard (BSC)
        • phrase coined in the early 1990s.
      • Originated by Drs. Robert Kaplan and David Norton.
      Translating Strategy into Action How BSC Companies Thrive in the New Business Environment Converting Intangible Assets into Tangible Outcomes Using the Balanced Scorecard to Create Corporate Synergies
    • Definition
      • The Balance Scorecard (BSC)
      • Strategic planning and management system.
      • Aligns business activities to the vision and strategy of the organization.
      • Adds strategic, non-financial performance measures to traditional financial metrics to give executives a more 'balanced' view of organizational performance. 
    • Four Perspectives Balance Scorecard (BSC) Financial Resources
      • Cash Flow
      • ROI
      • Savings Captured
      • New Customers
      • Customer Activity
      • Market Share
      • New Patents
      • Employee Growth / Retention
      • Degrees / Credential Holders
      • Orders Processed
      • Error / Failure Rate
      • Process Speed
      Customer Stake Holder Intimacy BSC Internal Business Process Learning & Growth Innovation Culture & Capabilities
    • BSC Implementation
      • Translating
        • the vision into operational goals.
      • Communicating
        • the vision and linking it to individual performance.
        • strategy mapping
      • Measuring
        • performance indexing (metrics, KPI’s).
      • Feedback & Learning
        • reviewing and adjusting the strategy as necessary.
    • Examples of Businesses
      • Wang Computer
        • Hubris
      • Polaroid
        • Lacking Innovation
      • IBM
      • Raytheon
    • Very Tall Building Corp.
      • Software Developer
      • Navigation Devices
      • Competitor of Garmin, Magellan Tom Tom and others.
    • Reception Area Very Tall Building Corp. To Elevators Joanne
    • Mission Statement
      • The Very Tall Building Company aims to be the most customer centric, innovative provider of GPS Navigational devices on the market.
      • We aim to make it easy for consumers to know who we are and what we do.
      • Our customer intimacy will be our competitive advantage.
      • We will strive to capitalize on the creativity of our workforce to bring Wow inspiring products to market.
    • Very Tall Building Corp.
      • Profits
      • Cash Flow
      • Savings
      • Revenue Growth
      • FINANCIAL
      • Cust. Relationship Mgm’t
      • Service Level
      • Customer Intimacy
      • Product Awareness
      • Process Flow & Efficiency
      • Muda Reduction
      • Kaizen
      • Ease of Use
      • Creativity
      • Learning Environment
      • Newly Discovered Wows'!
      • Inspiring
      CUSTOMER LEARNINGS PROCESS
    • Reception Area Very Tall Building Corp. To Elevators
    • Reception Area Very Tall Building Corp. To Elevators Newly Opened Product Display Gallery
    • Very Tall Building Corp.
      • Profits
      • Cash Flow
      • Savings
      • Revenue Growth
      • FINANCIAL
      • Cust. Relationship Mgm’t
      • Service Level
      • Customer Intimacy
      • Product Awareness
      • Process Flow & Efficiency
      • Muda Reduction
      • Kaizen (customer input)
      • Ease of Use
      • Creativity
      • Learning Environment
      • Newly Discovered Wows'!
      • Inspiring
      CUSTOMER LEARNINGS PROCESS
    • Mission Statement
      • Revisited
    • Mission Statement
      • The Very Tall Building Company aims to be the most customer centric , innovative provider of GPS Navigational devices on the market.
      • Grand Galley opening, and business analysts reports created a media buzz
      • Interviews for WSJ, Business Week, Jim Gramer
      • Awesome product line demonstrated on Oprah.
    • Mission Statement
      • We will strive to capitalize on the creativity of our workforce to bring Wow inspiring products to market.
      • Receptionist job has been transformed
      • Job sharing increases moral.
      • Educational channel for new associates
      • $ Bonus and recognition received
    • Mission Statement
      • Our customer intimacy will be our competitive advantage.
      • Success of this gallery has spurred the opening of others.
      • Being called the Apple Store of …
      • Competitors are now visiting gallery
    • Mission Statement
      • We aim to make it easy for consumers to know who we are and what we do.
      • Reports of market share on up-tick.
      • Positive response from visitors, customers and employees.
      • During new product launch, galleries experiences over crowding (details at 5 on 5)
    • Results (1st year)
      • Financial
        • Captured 3 major business accounts
        • 2/5 visitors purchased
        • TYD Revenues of $225,000
      • Customer
        • Existing customers brought new ones
        • Obtained positive press reports in two prestigious journals from two major investment analysts.
      • Process
        • Customers love the convenience
        • Visitors no longer just wait
        • Very positive survey results
      • Learning & Growth
        • Receptions role switches to Gallery Rep.
        • Greater product awareness
        • Gallery is play area as well as sales
    • Conclusion (lessons learned)
      • The actions at the lowest level can and does influence decisions made at the highest level.
      • Alignment of goals, objectives and tasks offer the greatest impact on performance.
      • Strategy Mapping - activities and outcomes that feed the next level up
      Results Impact Links
    • Conclusion (Take-a-ways)
      • Understand where your project or department fits into the company’s Mission or Vision .
      • If you can demonstrate that what you do contributes to the company mission – you’ve just created alignment and added value.
    • Thank you. John Morrison Metro-North Roundtable PMI Mass Bay Chapter The Balanced Scorecard November 25, 2009