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Employing the Balanced Scorecard in Academic Libraries
 

Employing the Balanced Scorecard in Academic Libraries

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    Employing the Balanced Scorecard in Academic Libraries Employing the Balanced Scorecard in Academic Libraries Presentation Transcript

    • Employing the Balanced Scorecard in Academic Libraries Presenter: John Potter, Librarian ITT Technical Institute/Grand Rapids, MI
    • What is the Balanced Scorecard?
      • A strategic planning and management system used extensively in business, government, and non-profit organizations
      • Created by Harvard Professors Robert Kaplan and David Norton as a performance measurement framework in 1992
      • Provides a comprehensive view of an organization’s performance (viewed from different viewpoints or perspectives)
      • Aligns organizational activities to a given mission/ vision; provides organizations with metrics against which to measure their success
    • What is the Balanced Scorecard?
      • Implementing the Balanced Scorecard is dependent upon focus and alignment of objectives
      • Strategic improvements flow from the bottom up
      • Strategic Planning begins by looking at higher perspectives, helps inform lower perspectives
      • The BSC forces organizations to rethink their strategic priorities and describe their strategies
    • Strategic Perspectives
      • Strategic Perspectives include
        • Financial: Profit, Cash Flow, Cost control, Return on Capital
        • Customer: Time, Quality, Performance, Price
        • Internal Process: Operations, Innovation processes, Social & Regulatory
        • Learning & Growth: Human, Information, & Organizational Capital
      • Underlying Principle: You cannot manage what you cannot measure
    • How conceived:
    • What is a Strategy Map?
      • A visual representation of an organization’s strategy
      • Thus, helps Management more easily formulate organizational strategy
      • Shows cause-and-effect relationships among components of an organization’s strategy
      • Evolved from the four-perspective Balanced Scorecard Model
    • At the 2008 MLA Conference Poster Session (strategy map in background)
    • Why a Strategy Map?
      • Helps management visualize strategy
      • A uniform and consistent way to describe strategy
      • Provides the missing link between strategy formulation and execution
      • Uses linked objectives to describe and visualize strategy (provide a macro view)
      • Underlying Principle : You cannot measure what you cannot
    • Financial Perspective Provide services w/high ratio of value-cost *ILL transaction unit cost Sufficient investment to remain top-ranked library *ARL index rating Increase financial base through donations, external support, & institutional support *Library expenses as a proportion of university expenses Customer Perspective Educate users in Information Literacy *Student Satisfaction with Info Literacy Provide Excellent service to library users * Overall student faculty rating with Library Service Develop high quality collection that supports institution’s mission *CirculationRate Internal Process Perspective Identify and Improve with processes greatest impact *Processing time for routine acquisitions Operate in the most innovative, effective way possible *regular usability testing of library websites Provide facilities that promote staff productivity, encourage library use *Response to equipment service requests Learning & Growth Foster learning among library employees to encourage innovation * impact of staff dvlpt Recruit, develop, and retain productive, highly qualified staff *retention rate *job satisfaction Develop an innovative & effective infrastructure to support library services & various initiatives **Funding generated by R&D
    • Library expenditures:
      • Causally linked with performance measures relevant to patrons, internal process, staff development processes
        • For example, collection development costs can be linked with relevant measures for
          • Faculty satisfaction, usage
          • Turnaround time for faculty requests
          • Staff cataloging skills
    • Library Expenditures:
      • Likewise, reference staff costs can be linked to measures related to:
        • Student satisfaction
        • Reference desk ‘productivity’
        • Reference staff training
    • What does this mean?
      • By focusing upon strategically RELEVANT performance criteria, library management can
        • Clarify their strategic vision
        • Better communicate with staff
        • Plan and align their strategic initiatives
        • Enhance strategic feedback and learning
      • Moreover, management’s heightened focus upon specific performance areas can motivate staff to achieve innovative improvement in these areas
    • Are any academic libraries using the Balanced Scorecard?
      • Yes, the best known is The University of Virginia Library System
      • See www.lib.virginia.edu/bsc